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We're waiting for a low risk sell position towards 1.34460.

We're waiting for a low risk sell position towards 1.34460. | 08 October 2021

08 October 2021, GBP/USD

We're waiting for a low risk sell position towards 1.34460.

Wave Analysis

During the previous day, the British pound pulled back to the upperside and ended up touching the previous day's highest high. However, the price ended up closing below it. As it is right now, we are looking forward to a possible rally to the lowerside and should break below 1.34460 or even lower. If the price breaks above 1.35925, then we are likely to see a surge to the upperside with an ideal target set around 1.38 or even higher.

Trade Recommendations:

We're waiting for a low risk sell position towards 1.34460.

Bob Stan
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