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We are sellers towards 1.2450.

We are sellers towards 1.2450. | 23 May 2022

23 May 2022, GBP/USD

Wave Analysis:

This pair has been trading within the upper and the lower trendline for a while now,recently the price rallied from the lower trendline at the impulsive wave cycle three towards the upper side at the corrective wave cycle four.As at now,the price is on the upper trendline I expect it to bounce off from the upper trendline towards the lower side in continuation of the impulsive wave cycle five.However,should the price break above the upper trendline,then we will be long,but as of now we are sellers from 1.2543 towards1.2450.

Trade Recommendations:

We are sellers towards 1.2450.

Bob Stan
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