The minor corrective decline from 148.57 should be near its completion. It is possible, that a final dip closer to 146.96 could be seen, as long as minor resistance at 147.46 is able to cap the upside, but a break above minor resistance at 147.46 and more importantly a break above resistance at 147.97 will confirm, that this corrective decline has completed and the next impulsive push higher towards 149.41 on the way higher to the 161.8% extension target is developing.
R3: 149.41
R2: 148.41
R1: 147.96
Pivot: 147.46
S1: 147.11
S2: 146.96
S3: 146.71
Trading recommendation:
We are long GBP from 143.15 with our stop placed at 146.00.
The material has been provided by InstaForex Company - www.instaforex.com