Wave Analysis
The British pound continues to remain below the upper trendline. As long as the price remains below the this trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below 1.35895. If this is the case, then further momentum to the lowerside is expected with an ultimate target and may continue much lower towards 1.28380. On the flipside, a breakout above 1.38400 will move the price much higher.
Trade Recommendations:
Remain short towards 1.35060.
Origin: FreshForex
