The British pound is faring similarly poorly to the euro. The rate is plummeting rapidly, updating lows with each surge. However, this acceleration seems to be final, as the wave pattern suggests that trading is occurring in the final stage of an impulse movement.
Presumably, Wave 5 of [v] is currently being formed. Its completion is likely imminent. At the start of the trading week, the price will probably continue to decline, after which buyers will make an active attempt to regain control.
Thus, in this situation, it is recommended to wait for the beginning of a reversal and look for an appropriate moment to conclude buy transactions.
Investment idea: 1.2130, Stop Loss 1.2100, Take Profit 1.2560.
Origin: FreshForex
