Expecting a reversal for the Pound to the upside in the near future. However at this moment I am inclined to sell as for all the indicators (structure resistance and moving average resistances). Without resisting current price developments to the downside; I will observe this subwave count to progress in its final wave v, before we resume trending with the bullish sentiment. The termination of the subwaves, larger correction WXY, bearish wolfe wave 5, and the projected leg of zig zag clone (ABCD harmonic pattern) appears to occur at 1.410 which means a double bottom before a bull take-over is likely.
Comment:
Significant price gap. Should price fill this week before it creates lower lows? I don't know. The ideal situation is for it to correct itself and to then sell at a price remotely close to the vertex. Otherwise, it's JUST a missed opportunity.