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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 12 October 2021

12 October 2021, GBP/USD

We're sellers towards the lower trendline.

Wave Analysis:

Yesterday, the British pound rallied to the lowerside and ended up closing as a bearish pin bar, as it is right now, we are looking for a possible rally to the lowerside and should see price break below the previous day's lowest low towards 1.34101, if you are on this chart, keep looking for long term sell position. However, in case the price breaks and closes above the previous day's highest high, then this will be a good place to consider a possible long term buy position.
Trade Recommendations:
We're sellers towards the lower trendline.
Bob Stan
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