- March 24, 2010
- Posted by: Ramki Ramakrishnan
- Category: GBP
After rallying back sharply to 1.5380, the Pound has come off in what looks like a five-wave pattern. The final leg of these five waves is likley to be completed soon, and so we should get ready for a recovery back towards the previous fourth wave around 1.5110. So trade accordingly. The prior low at 1.4780 offers key support, while even 1.4835/50 can hold up.