I think we are in a small correction with Running Flat type (blue ABC).
It is possible that we can dip to previous low around 1.2400 before upmove resumes.
Above 1.2706 (top of blue A) the upside would be confirmed as correction ends there.
Overall this is a large countertrend correction and the pound weakness should resume once we are finished with wave Y (yellow).
It is possible that we can dip to previous low around 1.2400 before upmove resumes.
Above 1.2706 (top of blue A) the upside would be confirmed as correction ends there.
Overall this is a large countertrend correction and the pound weakness should resume once we are finished with wave Y (yellow).
Comment:
Wave (B) finished. Upside target 1.3030 on 4H (Y=W)
