The previous day, the British pound raallied to the lowerside and is still showing signs of continuing much lower. On this chart, we are looking for long term sell positions towards 1.172 and may continue much lower. As it is right now, keep looking for low risk sell opportunities towards 1.1678 and may extend much lower. As it is right now, we are strictly sellers. On the flipside, should the price break above 1.2380, then we will be looking for a possible long term buy position with an ultimate target set at 1.2785 and may continue much higher.
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