Wave Analysis
The British pound is currently in an active down trend. As long as the price remains below the Alligator indicator, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (v) to the lowerside and should breakout below 1.37250 towards 1.36. If the price pulls back to the upperside, then the best place to consider a possible trade is around 38.2% fib level to pick a possible long term sell position expecting the price rally bearish towards 1.37.
Trade Recommendations:
Wait for 38.2% fib level to pick a possible long term sell towards 1.37
Origin: FreshForex
