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We're waiting | 04 November 2021

04 November 2021, GBP/USD

We're waiting

Wave Analysis:

Yesterday, the British pound rallied to the upperside but failed to go beyond 1.3725. As long as the price remains below this level, we are looking for a possible long term sell positions expecting a break below the previous day's lowest low, with the next ideal target set around 1.3583. If the price breaks above today's recent highest high, then we may see a possible rally towards 1.3795 and could extend much higher. On this chart basically, we are looking for long term sell orders unless we see a clear indication that buyers are now in control.
Trade Recommendations:
We're waiting
Bob Stan
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