Short-term key resistance at 140.74 has been capped. We continue to look for support at 138.64 and a break below here will lead to a decline to a minimum 137.74 and possibly even closer to our ideal corrective target at 135.67 from where a new rally towards 144.98 is expected.
A direct break above short-term key resistance at 140.74 will indicate completion of the correction and a direct rally towards 144.98.
R3: 141.15
R2: 141.12
R1: 140.74
Pivot: 140.21
S1: 139.74
R2: 139.26
R1: 139.07
Trading recommendation:
We will buy 50% GBP at 137.85 and 50% at 135.75 or we will buy 100% upon a break above 140.74
