Wave Analysis
Just before the end of last week, the British pound established a swing high around 1.31875, The pair then pulled back to the lower side but is above a significant level 23.6% fib level. We expect further correction to the lower side towards 50.0% fib level but should not break any lower. As it is now, any signs that the current correction is ended will be a good sign for a long term buy. The anticipated buy position is the continuation of the impulsive wave (v) to the upperside and should break above 1.31875.
Trade Recommendations:
Look for low risk buy positions towards 1.31875.
Origin: FreshForex
