I think we are in a small correction with Running Flat type (blue ABC).
It is possible that we can dip to previous low around 1.2400 before upmove resumes.
Above 1.2706 (top of blue A) the upside would be confirmed as correction ends there.
Overall this is a large countertrend correction and the pound weakness should resume once we are finished with wave Y (yellow).
It is possible that we can dip to previous low around 1.2400 before upmove resumes.
Above 1.2706 (top of blue A) the upside would be confirmed as correction ends there.
Overall this is a large countertrend correction and the pound weakness should resume once we are finished with wave Y (yellow).
Note
Wave (B) finished. Upside target 1.3030 on 4H (Y=W)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.