Wave Analysis
At the moment, the british pound is rallying around 1.3839. According to the current chart set up and structure, we are in an active downtrend, buying, or holding onto a buy on this symbol is a bit risky and may not be recommended, however, if the price breaks above the previous day’s highest high, then further momentum much higher is expected, however, if the price breaks below the previous day’s lowest low, then we will be looking for a possible long term sell position, with this position our target is set around 1.3758 and may extend much lower with the next ideal target set at 1.31.
Trade Recommendations:
We’re looking for low risk sell positions towards 1.31
Origin: FreshForex
