As the sentiment around the euro increasingly shifts towards bullish, it’s probable that we are also seeing an upward trend forming for the pound. An alternative scenario involves a bullish impulse, where the development of the corrective wave [iv] has likely concluded.
In this case, we are currently witnessing the beginnings of the final wave [v]. The overall picture appears well-structured, with alternation observed, deep correction in wave [ii], prolonged sideways movement in wave [iv], and elongation in wave [iii].
A good entry point for buying opportunities currently exists, so it’s recommended to take advantage of it.
Investment idea: Buy at 1.2640, stop loss at 1.2600, take profit at 1.2950.
Origin: FreshForex
