Wave Analysis
During the previous trading day, the British pound bounced off from the lower trendline, headed straight to the upperside and is still pretty much bullish. As long as the price is held above the upper trendline, we are looking for a possible long term buy position. The anticipated bullish price rally
is the continuation of the last impulsive wave count and should see the price break beyond 1.41840 and should push the price much higher with the next ideal target set around 1.42 and may extend much higher towards 1.43 or even higher. On the flipside, only if the price breaks and close below the lower trendline will be looking for a possible long term sell position.
Trade Recommendations:
We’re buyers with an ideal target set around 1.415
Origin: FreshForex
