Wave Analysis
Currently, the British pound is within a contracting wedge formation. As long as the price remains below the Alligator black line, we expect nothing but a possible rally towards the daily low 1.37313, if the price breaks below this level, then further rally to the lowerside is expected, and in case the price rebounds from 1.37313, then this will be a good place to consider a possible long term buy order with an ideal target set around 1.37949, and the next target set at 1.38343 and the next target set at 1.38980.
Trade Recommendations:
We’re sellers towards 1.37313
Origin: FreshForex
