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We are sellers towards 1.2085.

We are sellers towards 1.2085. | 29 July 2022

29 July 2022, GBP/USD

We are sellers towards 1.2085.

Wave Analysis:

This pair is currently trading in an uptrend, during the previous trading days, the price rebounded from the corrective wave cycle two towards the upper side at the impulsive wave cycle three. The price is currently rallying around the upper trendline, I expect it to bounce back towards the lower side around 1.2085 at the corrective wave cycle four, then rebound towards the upper side in continuation of the impulsive wave cycle five. If you are looking at this pair now, pick a sell towards 1.2085.Unless the price break breaks above the upper trendline, we remain sellers.

Wave Analysis:

We are sellers towards 1.2085.

Bob Stan
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