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We are sellers towards 1.1610.

We are sellers towards 1.1610. | 21 June 2022

21 June 2022, GBP/USD

Wave Analysis:

This pair is currently trading in an expanding wedge formation, recently the price rebounded from the impulsive wave cycle three towards the upper side at the corrective wave cycle four. Right now the price is rallying around the upper trendline, I expect it to bounce back towards 1.1610 in continuation of the impulsive wave cycle five. However, should the price break above the upper trendline, then we will become buyers.

Trade Recommendations:

We are sellers towards 1.1610.

Bob Stan
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