Just as in Euro, the british pound is currently rally within a falling channel formation. We tool a short position following the rebound from the upper trendline and is still holding onto this position. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and may breakout below the lower trendline towards 1.35 and may extend much lower with the next ideal target set around 1.34.
Trade Recommendations:
Remain short towards 1.36890.
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