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We are on the sidelines.

We are on the sidelines. | 18 July 2022

18 July 2022, GBP/USD

We are on the sidelines.

Wave Analysis:

The Great British Pound has rallying within the upper and the lower trendline for a while now, during the previous trading days, the price rebounded from the lower trendline towards the upper trendline in continuation of the impulsive wave cycle five. Right now the price is on the upper trendline, should it break above the upper trendline, then 1.1915 would be a good place to pick a buy from with the first ideal target at 1.1975.However,should the price bounce back to the lower side, then I expect it to go up to the lower trendline. If you rea looking at this pair now pick a trade in line with the price direction.

Trade Recommendations:

We are on the sidelines.

Bob Stan
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