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Wait and buy a break above 1.2140

Wait and buy a break above 1.2140 | 30 December 2022

30 December 2022, GBP/USD

Wait and buy a break above 1.2140

Wave Analysis:

The British pound is showing signs of bouncing off from the upper trendline. As long as the price remains below the the upper trendline, we are looking at nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave cycle and may see the price continue to the lowerside towards 1.19190 and may continue much lower. On the flipside, should the price break and close above this trendline, then further momentum to the upperside is expected.
Trade Recommendations:
Wait and buy a break above 1.2140
Bob Stan
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