Wave Analysis
During the previous trading day, the British pound rallied to the lowerside but did not make any significant rally downwards, as it is now, we are sellers. Keep looking for long term sell positions. The ideal is to wait for a clear breakout below the previous day’s lowest low to pick a possible long term sell position towards 1.3865. If the price breaks below this target, then further momentum to the lowerside is expected. The anticipated bearish price rally is the continuation of the last impulsive wave count and could see the price break beyond 1.3781. On the flipside, in case the price breaks above the previous day’s highest, then further momentum to the upperside is expected.
Trade Recommendations:
We’re sellers towards 1.37
Origin: FreshForex
