Elliott waves analysis – We’re sellers towards 1.23339

During the previous trading day, the British pound bounced off from the level 1.21557 and is still above this level, while the price remains above this level, I expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation if the last impulsive wave (5) and may see the price rally towards 1.25 and may accelerate much higher with the next ideal target set around 1.30 or even higher./ On the flipside, only a break and close below 1.21, we will be looking for a sell position.

We’re sellers towards 1.23339