We are sellers towards 1.1980. | 18 May 2022

Wave Analysis:

The Great British Pound is currently on a downtrend,the price has been rallying along the lower trendline for quite sometime.During the previous trading days the price rebounded from the impulsive wave cycle three towards the upper side at the corrective wave cycle four.Right now the price is on the upper trendline,I expect a it to bounce back to the lower trendline in continuation of the impulsive ave cycle five.We are sellers from 1.2475 towards 1.1980,on the flip side should the price break above the upper trendline then 1.2485 would be a good place to pick a buy from with the first ideal target at 1.2750.

Trade Recommendations:

We are sellers towards 1.1980.