The pound tried to fight back. Surprise played a role, because after a fairly brisk rise, the price quickly began to slide downwards. However, this decline is likely to be corrective in nature. Market sentiment appears to be changing, and the wave picture clearly indicates this.
So, the prolonged downward impulse has likely fully ended. The attempt to grow represents the first wave of an emerging bullish phase, while the decline serves a corrective function as the second wave. In this case, the pound will attack again shortly, and this time it has a good chance to grow even stronger.
For this reason, it is recommended to consider the possibility of concluding buy transactions at the current market values.
Investment idea: Buy 1.2200, Stop Loss 1.2175, Take Profit 1.2450.
Origin: FreshForex
