Wave Analysis
The British pound is currently within a falling wedge formation. While the price remains below the upper trendline, we are looking for long term sell position expecting price to breakout below the lower trendline towards 1.33390 towards 1.30050 or even lower. On the flipside, should the price breakout above the upper trendline, then we will be looking for long term, buy position expecting the price to continue to the upperside with an ideal target set around 1.3923 towards 1.42575.
Trade Recommendations:
We’re waiting for a sell from the upper trendline towards 1.35895
Origin: FreshForex
