Wait and sell a rebound from the upper trendline towards the lower trendline.

11 June 2021, GBP/USD

Wait and sell a rebound from the upper trendline towards the lower trendline.

Wave Analysis

The British pound is still within a range, not going above the upper trendline or below the lower trendline. If the price bounces off from the upper trendline, then this will be a good place to consider a possible long term sell position. If the price breaks above the same trendline to the upperside, then this will be a good place to consider a possible long term buy position. The anticipated bullish price rally is the continuation of an impulsive wave count and could see the price break beyond 1.42 towards 1.43 or even higher.

Trade Recommendations:

Wait and sell a rebound from the upper trendline towards the lower trendline.

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Graham Osano
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