Elliott waves analysis – We’re sellers as long as the price remains below 1.234456.

During the previous trading day, the British pound failed to break above 1.24442 and pulled back to the lowerside and is now below 1.2442, on this chart, as long as the price remains below 1.23453, we are looking for a possible long term sell position towards 1.22456 and may push the price much lower. If this is the case, then further momentum to the lowerside is expected, if the price breaks and closes above 1.2442, then we will be looking for a possible buy order.

We’re sellers as long as the price remains below 1.234456.