GBPUSD – Flat
Wave Analysis
During the previous trading week, the British pound rallied to the lowerside and is still pretty much bearish both on the daily and on the weekly. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lower side and may see the price continue towards 1.15 or even lower. On the flipside, if the price pulls back upwards, then we will be waiting for a possible sell position from around38.2% fib level to pick a possible long term sell positions.
Trade Recommendations:
We’re sellers towards 1.14.
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