We continue to look for signs confirming that the wave 2 has completed. Our ideal target at 141.05 has almost been hit (the low has been seen at 141.17). However, we need a breakout above minor resistance at 142.18 and, more importantly, a breakout above resistance at 143.44 to confirm that the wave 2 has completed and the wave 3 is developing towards 151.50.
R3: 143.44
R2: 142.85
R1: 142.56
Pivot: 142.22
S1: 141.46
S2: 141.17
S3: 141.05
Trading recommendation:
We are long GBP from 141.25 with our stop placed at 140.25
