Like the euro, the pound took advantage of the moment and switched from defense to attack. This was unexpected for sellers, as the growth turned out to be good. It’s unlikely that this is the end of it. The situation indicates that the price has significant potential for further growth. This is due to the possible formation of an extension in wave [iii] of the ascending impulse.
Yesterday’s buyer activity may mark the beginning of the development of wave 3 of [iii]. Therefore, the price will subsequently update the current high, establishing a new one at a considerable distance from the current peak.
Given this, only buy trades should be considered for trading.
Investment idea: buy 1.3150, stop loss 1.3125, take profit 1.3500.
Origin: FreshForex
