Wave Analysis
Eelier during the week, GBP bounced off from the upper black line, headed straight to the lowerside and is still pretty much bearish. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside and could see the price break beyond 1.38501. If the price breaks below this line, then further momentum much lower is expected. On the flipside, should the price break above the upper black line, then further momentum to the upperside is expected.
Trade Recommendations:
We’re sellers towards 1.38501
Origin: FreshForex
