Wave Analysis
Just as previously expected, the British pound bounced off from the upper trendline, went straight to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. While the price remains below the upper trendline, we are looking for a possible long term sell position, expecting the price to break below the lower trendline, if you are looking at this chart right now, the best idea will be to focus on long term sell positions, however, if the price should break above the upper trendline, then we will be looking for a possible long term sell position expecting the price rally much higher towards 1.42.
Trade Recommendations:
We’re sellers towards the lower trendline.
Origin: FreshForex
