Wave Analysis
Just as in Euro, the British pound continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the previous day’s highest high, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of an impulsive wave count and should see price breakout above 1.3797. If this happens, then we will be expecting further momentum to the upperside and should break much higher towards 1.39924 and could extend much higher. The idea here is to watch for a break above the previous day’s highest high to pick a low risk buy position.
Trade Recommendations:
We’re buyers towards 1.37974
Origin: FreshForex
