With the break below short-term important support at 147.36 it was confirmed, that a B-wave triangle had developed and more downside pressure towards 146.25 should be expected before the next impulsive rally will be ready to take over for a break above 148.03 on the way higher to 151.50.
R3: 148.39
R2: 148.03
R1: 147.79
Pivot: 147.45
S1: 147.00
S2: 146.70
S3: 146.25
Trading recommendation:
Our stop at 147.35 was hit for a 255 pips profit. We will re-buy GBP upon a break above 147.79.
The material has been provided by InstaForex Company - www.instaforex.com