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We're selling a rebound from the upper trendline.

We're selling a rebound from the upper trendline. | 18 October 2021

18 October 2021, GBP/USD

We're selling a rebound from the upper trendline.

Wave Analysis

Just as previously anticipated, the British pound rallied to the upperside but failed to ascend beyond the upper trendline. While the price is not able to clearly breakout above the upper trendline, we are actually looking forward to a possible rebound from the upper trendline to pick a possible long term sell position towards the level 1.34101. If the price breaks below this line, then further momentum to the lowerside is expected towards 1.28600.

Trade Recommendations:

We're selling a rebound from the upper trendline.

Bob Stan
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