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We are short towards 1.2355.

We are short towards 1.2355. | 20 May 2022

20 May 2022, GBP/USD

We are short towards 1.2355.

Wave Analysis:

This pair has been trading within the upper and the lower trendline for a while now,recently the price rebounded from the lower trendline at the impulsive wave cycle three towards the upper side in continuation of the corrective wave cycle four.As at now the price is heading towards the lower side, I expect a further bearish momentum towards 1.2355 or even much lower in continuation of the impulsive wave cycle five.We are sellers from 1.2452 towards 1.2355.

Trade Recommendations:

We are short towards 1.2355.

Bob Stan
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