Wave Analysis
During the previous week, instead of rallying to the lower side, the British pound pulled back to the upperside and is now above the lower trendline. As it is right now, we are looking for a possible long term sell position. The anticipated bearish price rally is the continuation of an impulsive wave count and should see the price break and close below 1.33328 and may breakout even lower with an ultimate target set around 1.22280 and may breakout much lower.
Trade Recommendation:
We’re eying a possible sell towards 1.33328
Origin: FreshForex
