Elliott waves analysis – We’re waiting for the close of this month’s candle, but, we could look for low risk buy positions.

On the Monthly chart attached, the British pound continues to rally to the lowerside despite being on a monthly support zone 1.22254. This a monthly supportiove zone and while the priee remains aboe it, we don’t expect the impulsive wave(5) to continue any lower. The idea on this chart will be to watch for a rebound from this zone to pick a buy position.

We’re waiting for the close of this month’s candle, but, we could look for low risk buy positions.