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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 10 August 2021

10 August 2021, GBP/USD

We're sellers towards the lower trendline.

Wave Analysis

The british pound is still rallying below the zone 1.39968-1.39635. As we said previously, as long as the price does not clearly break above the same zone, we are sellers. We expect to continue short with the last impulsive wave (C) to the lowerside but should not go beyond the lower trendline, if this level is broken, then further momentum much lower is expected with the next ideal target set at 1.32135. A break above 1.39968 will push the price much higher towards 1.43.

Trade Recommendations:

We're sellers towards the lower trendline.

Bob Stan
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