We have seen the expected rally into the 144.71 - 145.18 target-area. From here we will be looking for a minor correction close to the former corrective low at 142.84 before renewed upside pressure towards 147.96 and ultimately above here too.
Short-term a break below minor support at 144.39 will indicate green wave iii is complete and the expected correction in green wave iv is unfolding towards 142.84.
R3: 145.99
R2: 145.60
R1: 145.18
Pivot: 144.73
S1: 144.39
S2: 144.18
S3: 143.94
Trading recommendation:
We are long GBP from 142.27 and we will take 50% profit here at 144.85 for a nice 258 pips profit. We will re-buy 50% GBP at 143.00.
