Pound pounding as expected but in bullish correction

1 min read

As expected earlier, the pair is in the last phase of wave c (Green) formation. The major resistance ahead is 1.2763/70 which may serve as the ending of this bullish ABC correction to form wave (ii) orange.

In the chart below, The break of 1.2740 this time may target suggested area 1.2763/70. How ever a break below 1.2705 and 1.2685 will may support our bearish scenario.

 

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