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We are sellers towards 1.0810.

We are sellers towards 1.0810. | 31 May 2022

31 May 2022, GBP/USD

Wave Analysis:

During the previous trading days, the price rallied towards the lower trendline from the corrective wave cycle two but it ended up rebounding towards the upper trendline at the corrective wave cycle four. The price is on the upper trendline at the moment, I expect it to bounce back towards the lower trendline around 1.1810 in continuation of the impulsive wave cycle five. On the flipside, should the price break above the upper trendline, then I expect a bullish momentum.

Trade Recommendations;

We are sellers towards 1.0810.

Bob Stan
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