Wait | 24 May 2021

Wave Analysis

Last week, the British pound rallied to the upperside and even broke above the end of previous impulsive wave (iii) to the upperside. As long as the price remains above the end of the last impulsive wave (iii), we expect nothing but a possible momentum to the upperside and should break above 1.45 or even higher. On the flipside, should the price break below the black line then further momentum to the lowerside. The anticipated bearish price rally is the continuation of a corrective wave count and could see price break below 1.37730 towards 1.35660.

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