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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 21 December 2022

21 December 2022, GBP/USD

We're sellers towards the lower trendline.

Wave Analysis:

The British pound is currently within a converging wedge formation. As long as the price remains within this shape, I am waiting for a rebound from the upper trendline to pick a sell or a rebound from the lower tredline to pick a buy. On this chart, selling a break below the lower trendline looks ideal and can safely be recommended, or selling a rebound from the upper trendline, buy positions may be a bit risky at the moment.
Trade Recommendations:
We're sellers towards the lower trendline.
Bob Stan
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