The British pound is currently heading to the lowerside. As long as the price remains below the two moving averages, I expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and may see the price descend below 1.123 and will likely see the price continue much lower. On this chart, we are strictly sellers> if the price pulls back upwards and reach the 50.0% fib level, then this could be a good place to consider a possible sell position.
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