Wave Analysis
Earlier this week the British pound established a swing low around 1.32120. As long as the price remains above this level, we expect nothing but further momentum upwards but should not go beyond 61.8% fib level, if the price breaks and closes above this fib level, then further momentum much higher is expected. however, should the price rebound from 61.8% fib level, then this will be a good place to consider a possible long term sell position towards 1.32120 a break below this level will push the price much lower.
Trade Recommendations:
Wait for a rebound from the 61.8% fib level to pick a low risk sell position.
Origin: FreshForex
