We are sellers towards 1.1820. | 30 May 2022
30 May 2022, GBP/USD
Wave Analysis:
The Great British Pound is currently trading in an expanding wedge formation, recently 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 it to bounce back towards the lower trendline at 1.1820 or even much lower in continuation of the impulsive wave cycle five. However, should the price break above the upper trendline, then I expect to see a further bullish momentum but as of now we are sellers from 1.2646 towards 1.1820.
Trade Recommendations:
We are sellers towards 1.1820.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
