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We're waiting to sell a rebound from the level 1.3619 to pick a long term sell position towards the lower trendline.

We're waiting to sell a rebound from the level 1.3619 to pick a long term sell position towards the lower trendline. | 06 January 2022

06 January 2022, GBP/USD

We're waiting to sell a rebound from the level 1.3619 to pick a long term sell position towards the lower trendline.

Wave Analysis

The British pound continues to rally to the upperside but failed to break above the upper trendline. If the price can rebound from the upper trendline, then this will be the best place to consider a possible long term sell position towards the lower trendline. If the price should break above 1.3619, if this is the case, then we''ll be looking for a possible momentum to the upper side with the next ideal target set around 1.4170 and may breakout much higher.

Trade Recommendations:

We're waiting to sell a rebound from the level 1.3619 to pick a long term sell position towards the lower trendline.

Bob Stan
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