Wave Analysis
Last week, the British pound established a swing high around 1.42409, before crashing back to the lower side. On this chart, we are looking for a possible long term sell position. The anticipated sell position is the continuation of a corrective wave count and could see price break below 61.8% fib level towards 1.38471 and could breakout much lower. The idea is to keep looking for sell positions on this chart unless a clear buy position is seen. Conservative traders should wait for price around 1.37350.
Trade Recommendations:
Look for long term sell positions towards 1.38471.
Origin: FreshForex
