GBP/USD Forecast: British pound rallied to the lowerside

gbpWave Analysis

Just as in the Euro, the British pound rallied to the lowerside and is still pretty much bearish. As it now, we are looking for long term sell positions. Our idea is to watch for pullbacks to pick long term sell positions. At this point, buy positions looks a bit risky and may nott be recommended. However, in case the price breaks above the the previous week’s highest high, then we will be expecting further momentum to the upperside with the next ideal target set around 1.41 and may extend even higher. Should the price pullback up to the opening price of the previous day’s candle, then this will be a good place to look for a sell from

Trade Recommendations:

We’re sellers

Remain short towards 1.36890.

Origin: FreshForex

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