On Wednesday the British pound profile can be related to a "normal deviation of a normal day".
Any growth efforts were restricted by the lower level of fair VAL price of November 16 and also the point of control POC of October 29.
The right price zone of Wednesday was fixed by the VAL levels – 1.5868 and VAH – 1.5911. The point of control POC -1.5876.
Forecast for today:
Taking into account that on the Asian session the British pound was rather calm and even became slightly stronger against the US dollar. Worth pointing out the probability of opening long positions from today's control point which fixed around 1.5908 with the target at 1.5935, from which the uptrend can continue to 1.5998 (POC of November 10).
In case of a downtrend I do not recommend to open long positions at testing the Point of Control of the day before in the range of 1.5876, which will come in line with the triple expansion of the starting balance IBx3 – 1.5875.
Small short sales can be made from the levels: 1.5998, 1.6018 and 1.6037 (POC of November 16).