Posted on May 21, 2015 06:45
Great British Pound is continue to appreciate the corrective wave 1, sterling has completed its 5 Impulse bullish waves now this pattern is going to be end and the corrective waves pattern has been started. The resistance level 1.5835 is still valid and this pair unable to cross it, despite of huge demand in last week. If this resistance remains valid, it can target 1.5250 areas.
Furthermore, today retail sales data is important for this pair. Although the trend is strongly bearish for today trading but a little up word move is also acceptable.