We're on the sidelines. | 11 Agosto 2022

11 Agosto 2022, GBP/USD

Wave Analysis:

The British pound is struggling around 1.24101. As long as the price does not clearly break and close below this zone on the monthly chart, we expect nothing but a possible rebound from it to pick a possible long term buy position. Otherwise, a clear breakout and close below it will attract a possible long term sell position with an ultimate target set at 1.06197 and may likely break much lower. On this chart, sell positions are not advised, I recommend you remain on the sidelines.
Trade Recommendations:
We're on the sidelines.

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.
Bob Stan
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