Wave Analysis:
Previously, the Great British pound rallied towards the upper side at the upper trendline in continuation of the corrective wave cycle four,then the price bounced back to the lower sides towards the lower trendline at the impulsive wave cycle five.Right now the price is on the lower trendline above the resistance level 1.3000-1.2970,if the price breaks below this resistance level,then I expect to continue short and 1.2970 would be a good place to pick sell positions.If you are looking at this pair right now,wait for a clear break below the resistance level then pick long term sell positions.
Trade Reccommendations:
Wait.
Origin: FreshForex
