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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 09 Agosto 2021

09 Agosto 2021, GBP/USD

Wave Analysis

Few days ago, the British pound bounce off from the zone 1.39968-1.39625. While the price remains below this zone, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside and should break below the lower trendline 1.31310. If the price rebounds from the same trendline, then this will be a good place to consider a possible buy position towards 1.39968.

Trade Recommendations:

We're sellers towards the lower trendline.

Bob Stan
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