Elliott waves analysis – We’re waiting for reversals from 1.21 or 1.20

During the previous trading day, nothing much happened on the British pound, the pair remained within a range, not going below 1.20 or above 1.21. As it is right now, we are only interested in reversals, if the price breaks and close below 1.20, then this will be a good place to consider a possible long term sell position with an ideal target set around 1.19 and may see the price rally towards 1.18 or even lower. On the flipside, should the price break and close above 1.20890, then this will be a good place to consider a possible long term buy position towards 1.22 or even higher.

We’re waiting for reversals from 1.21 or 1.20