Elliott waves analysis – We’re buyers from 1.20085

So far, the British pound continues to rally around 1.20085. This is a significant level and while the price does not break and close below it, we are waiting for a rebound from it to pick a possible long bterm buy position towards 1.21170 and may continue much higher towards 1.22100 or even higher. On the flipside, should the price break and close below 1.20085, then this will be a good place to consider a possible sell position with a target set at 1.19.

We’re buyers from 1.20085