Elliott waves analysis – We’re sellers towards 1.13

Last week, the British pound continued to the lowerside and is still showing signs of continuing much lower. On this chart, sellers are in complete control. The idea is to keep looking for low risk sell positions. The anticipated bearish price rally is the continuation of the last impulsive wave (5) towards 1.13 and may likely continue much lower. On this chart, we are looking for low risk sell orders. As it is now, buy positions looks a bit risky and may not be recommended.

We’re sellers towards 1.13