Wave Analysis:
During the previous trading day, the British pound continued to the lowerside and is still pretty much bearish. As long as the price remains within the falling channel formation, 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 but should not go beyond 1.3786. If the price breaks and closes below this level then further momentum even lower is expected with the next ideal target set at 1.36. On the flipside, a break above the upper trendlne will push the price much higher with the next ideal target set at 1.39335.
Trade Recommendations:
We’re sellers towards 1.36
Origin: FreshForex
