Short-term key resistance at 140.74 has been capped. We continue to look for support at 138.64 and a break below here will lead to a decline to a minimum 137.74 and possibly even closer to our ideal corrective target at 135.67 from where a new rally towards 144.98 is expected.
A direct break above short-term key resistance at 140.74 will indicate completion of the correction and a direct rally towards 144.98.
We will buy 50% GBP at 137.85 and 50% at 135.75 or we will buy 100% upon a break above 140.74
The material has been provided by InstaForex Company – www.instaforex.com