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We're waiting to buy a round from 1.21557 towards 1.24.

We're waiting to buy a round from 1.21557 towards 1.24. | 16 December 2022

16 December 2022, GBP/USD

Wave Analysis:

During the previous trading day, the British pound rallied to the lowerside instead of moving up to the upperside. The current bearish price rally is a corrective wave cycle and may see the price rally towards 1.21555 and may rally to the lowerside with the next ideal target set around 1.19494 and may continue much lower. On the flipside, should the price break and close above this week's highest high, then further momentum to the upperside is expected with the next ideal target set around 1.25 or even higher towards 1.30.
Trade Recommendations:
We're waiting to buy a round from 1.21557 towards 1.24.
Bob Stan
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