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Sell a rebound from 1.49967 towards 1.36722.

Sell a rebound from 1.49967 towards 1.36722. | 10 May 2021

10 May 2021, GBP/USD

Wait and buy a break above 1.40067 towards 1.41840.

Wave Analysis

The British pound is still below the zone 1.40067-1.39828. As long as the price is held below this zone, we are waiting for a clear rebound from it to pick a possible long term sell position. However, in case the price break and closes above the zone 1.40067-1.39828, then further momentum to the upperside is expected. If the price breaks above this zone, we recommend looking for long term buy positions. A rebound from 1.39829, then further momentum to the lowerside is expeccted with an ideal target at 1.36722.

Trade Recommendations:

Sell a rebound from 1.49967 towards 1.36722.

Bob Stan
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