Wave Analysis:
After a failed attempt to break above 1.22667, the British pound pulled back to the lowerside and is now below the level 1.22667, this is a good place to consider long tern sell position,. we expect the rebound from around 1.234 to have been an end to the last impulsive wave (3) that the current bearish price rally is the unfolding of another impulsive bearish wave cycle and may see the price rally towards 1.19 and may continue much lower. As it is right now, we are looking for sell positions.
Trade Recommendations:
We’re sellers for now, towards 1.19725.
Origin: FreshForex
