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The strong rally above minor support at 152.44 indicated that wave iv/ completed early with a low at 151.32 and that wave v/ towards the 159.47 - 159.75 area now is in motion.
Short-term we should expect a temporary set-back into support between 152.27 - 152.72 from where the next impulsive rally higher towards 155.86 and then on to 159.47 to complete wave v/ of iii.
Trading recommendation:
If you are not long GBP already from 152.44, then use the dip into the support-area between 152.27 - 152.72 as a second chance to load GBP for the next impulsive rally higher.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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