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Conservative traders should wait and buy a break above 1.18816-1.18296

Conservative traders should wait and buy a break above 1.18816-1.18296 | 14 November 2022

14 November 2022, GBP/USD

Conservative traders should wait and buy a break above 1.18816-1.18296

Wave Analysis

During the previous trading day, British pound rallied to the upperside but is still below the zone 1.18816-1.18296. As long as the price does not break and close out of this range, we are waiting for a rebound from it to pick a long term sell position towards the lower trendline. On the flipside, should the price break and close above this zone, then we will be looking at a possible long term buy position.

Trade Recommendations:

We're buyers towards 1.198

Bob Stan
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