The triangle consolidation in red wave iv looks complete and with red wave e done, we are now looking for a break above minor resistance at 140.59 for a continuation towards 144.58 and longer term much higher.
Support at 139.34 should continue to protect the downside for the expected break above 140.59.
R3: 141.37
R2: 140.59
R1: 140.22
Pivot: 139.88
S1: 139.34
S2: 139.07
S3: 138.59
Trading recommendation:
We are long GBP from 140.12 with our stop placed at 138.75. If you are not long GBP yet, then buy a break above 140.26 and place you stop at 139.25
