The minor correction from 147.20 dipped just below the ideal 145.90 target (the low was seen at 145.65). We are now look for a break above 146.96 to confirm the next impulsive rally higher to 148.50 and 151.50 is developing.
Only an unexpected break below key-support at 144.92 will shift the bias towards the downside again for more downside pressure towards 143.79 and likely closer to 141.00 before renewed upside momentum should be expected.
R3: 148.00
R2: 147.50
R1: 147.00
Pivot: 146.29
S1: 145.67
S2: 145.39
S3: 144.90
Trading recommendation:
We are long GBP from 146.51 with our stop placed at 144.80
The material has been provided by InstaForex Company - www.instaforex.com
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