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We are buyers towards 1.3160.

We are buyers towards 1.3160. | 06 April 2022

06 April 2022, GBP/USD

We are buyers towards 1.3160.

Wave Analysis:

During the previous trading days, the Great British Pound rallied to the upper side in continuation of the corrective wave cycle four.The price bounced back to the lower side up to the lower trendline in continuation of the impulsive wave cycle five.As at now, the price is on the lower trendline, I expect a rebound to the upper side towards the upper trendline.However, should the price break below the lower trendline clearly, we expect to continue short and 1.1360 would be a good place to pick sell positions from.

Trade Reccommendations:

We are buyers towards 1.3160.

Bob Stan
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