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Wait. | 03 May 2022

03 May 2022, GBP/USD

Wave Analysis:

The Great British Pound has been trading within the upper and the lower trendline,the price rallied along the upper trendline during the previous trading days at the corrective wave cycle four but later bounced off towards the lower trendline in continuation of the impulsive wave cycle five.Right now the price is on the lower trendline, I expect a further momentum towards the lower side,If you are looking at this pair right now,wait for the price to break below the lower trendline then pick a sell position.Should the price rebound to the upper side, then I expect it to go upto 1.2850.

Trade Recommendations:

Wait.

Bob Stan
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