Elliott waves analysis – We’re sellers towards the previous months lowest low

According the daily chart attached, the British pound is currently heading to the lowerside, the idea on this chart is to keep looking for long term sell position. As much as we’re looking at a possible bullish correction, we’re likely not to see a break above the upper blue line, the idea is to wait for a rejection from this line, to mark an end to the corrective three wave cycle and an onset to an impulsive wave count towards the previous month’s lowest low.

We’re sellers towards the previous months lowest low