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We are on the sidelines.

We are on the sidelines. | 02 May 2022

02 May 2022, GBP/USD

We are on the sidelines.

Wave Analysis:

This pair is currently trading in an expanding wedge formation,during the previous trading days,the price rallied around the upper trendline for a while but ended up bouncing off towards the impulsive wave cycle three.Recently the price bounced off from the upper trendline towards the lower side in continuation of the impulsive wave cycle five.As at now, the price is around the lower trendline,I expect a rebound towards the upper trendline or a break below the lower trendline.If you are looking at this chart right now wait.

Trade Recommendations;

We are on the sidelines.

Bob Stan
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