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Wait | 18 October 2022

18 October 2022, GBP/USD

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Wave Analysis

Just as in EURO, the British pound is in a correction mode, as it is right now, we are expecting a possible rally to the upperside if the price closes above the upper blue line and a move to the lowerside if the price fails to break above this line, on this chart, we may see the sellers push price downwards towards 1.03940 and may extend much lower. On this chart, sell positions still look ideal as long as we have an uptrend on the US Dollar.

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Bob Stan
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