Wave Analysis
The British pound successfully broke below the supportive trendline. While the price remains below this trendline, we are looking at the level 1.28920 as a possible turn around point. And in case the price breaks and closes below this level, then further momentum much lower is expected towards 1.27188. A bounce from this level, 1.28920 may not mean we are upwards but we are just pulling back upwards with our target at 1.29820. On this chart, conservative traders should wait and sell a clear breakout below 1.28920 with target at 1.27188.
Trade Recommendations:
Conservative traders should wait and sell a break below 1.28920 with their target at 1.27188.
Origin: FreshForex
