This decline in Sterling from the highs is extending and clearly below long-term uptrends now. Momentum is also weak in multiple time frames and the latest correction failed at the 38.2% Fib retracement. The path of least resistance is still lower. From a wave perspective, wave-(v) of 3 is targeting a projection zone between 1.6750-6720; this is where channel support and symmetry targets align. Minor support is now 1.6818 and resistance is 1.6889. Conviction: Med/High Levels: Support – 1.6818, 1.6750, 1.6720 Resistance – 1.6889, 1.6960, 1.70
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