Elliott waves analysis – We’re buyers towards 1.26.

Just as in EURO, the British pound is currently in an active uptrend. As long as the price remains above the level 1.23339, we expect nothing but a possible momentum to the upperside, the idea on this chart is to keep looking for low risk buy positions expecting the price to rally towards 1.24 and may likely extend much higher. On this chart, we are strictly buyers towards 1.27 and may continue much higher. On the flipside, in case the price breaks and closes below 1.23339, then this will be a good place to consider looking for sell orders towards 1.21557 or even lower.

We’re buyers towards 1.26.