Elliott waves analysis – We are buyers.


Wave Analysis:

The Great British Pound has been trading within the upper and the lower trendline for a while now, recently the price bounced off from the impulsive wave cycle three towards the lower trendline at the corrective wave cycle four. As at now the price is ralling around the lower trendline. I expect a further bullish momentum from 1.2269 towards 1.2350 in continuation of the impulsive wave cycle five. On the flipside should the price break below the lower trendline then 1.2260 would be an ideal place to pick a sell from.

Trade Recommendations:

We are buyers.

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