Wave Analysis
During the previous trading day, the British pound rallied to the lowerside and is now within the range 1.32676-1.31947. While the price remains within this range, we are waiting for a sell from around 1.32676 and buy from 1.31947. If the price breaks and close below the lower level, then we will be looking for a possible long term sell position towards 1.31335 and may continue much lower. On the flipside, a break above 1.33667, then we will be looking for a possible long term buy position towards 1.34035.
Trade Recommendations:
We’re on the sidelines.
Origin: FreshForex
