Elliott waves analysis – We’re waiting for a bearish correction.

The British pound is currently in a bullish bias momentum. As long as the price remains above 1.22900, we are looking for low risk buy positions towards 1.25 and may continue to the upperside towards 1.26 or even higher. On the flipside, should the price break below 1.23390 and may see the price rally to the lowerside towards 1.22410 and may continue much lower.

We’re waiting for a bearish correction.