The sideways consolidation we have seen over the last couple of days, should lead to a final dip towards our target near 141.05 to complete the wave 2 and set the stage for a new impulsive rally in the wave 3 towards 151.30.
Resistance remains in the 143.36 - 143.74 area which is expected to cap the upside for a final dip closer to the 141.05 target.
R3: 143.74
R2: 143.36
R1: 143.06
Pivot: 142.59
S1: 142.21
S2: 141.95
S3: 141.52
Trading recommendation:
We are short GBP from 143.70 with our stop at 144.40, we will take profit+reverse our position at 141.25.
