Wave Analysis:
During the previous trading days, the Great British Pound bounced off from the lower trendline at the impulsive wave cycle three and rallied towards the upper trendline in continuation of the corrective wave cycle four.As at now the price has been rallying along the upper trendline for a while now, I expect a rebound to the lower side towards 1.2870 in continuation of the impulsive wave cycle five.However, should the price break above the upper trendline clearly, then 1.3170 would be a good place to pick buy positions with our first ideal target at 1.3395.
Trade Reccommendations:
We are sellers.
Origin: FreshForex
