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Wait. | 24 May 2022

24 May 2022, GBP/USD

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Wave Analysis:

The Great British Pound has been trading in an uptrend.Previously the price rebounded from the lower trendline at the corretive wave cycle four, towards the upper side in continuation of the impulsive wave cycle five.Right now the price is rallying slightly below the upper trendline,should it bounce back to the lower trendline ,I expect it to go upto 1.2495 then rebound upwards.However, I still expect a break above the upper trendline and a further bullish moentum.If you are looking at this pair right now,wait for a clear break above the upper trendline then pick a buy from 1.2600.

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Bob Stan
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