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We're sellers towards 1.11 in the long run.

We're sellers towards 1.11 in the long run. | 12 September 2022

12 September 2022, GBP/USD

We're sellers towards 1.11 in the long run.

Wave Analysis:

During the previous trading day, the British pound continued to the lowerside but is currently pulling back to the upperside. While the price does not clearly break above the upper moving average, I expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of an impulsive wave count and should see the price break and close below 1.12530 and may likely continue to the lowerside.

Trade Recommendations:

We're sellers towards 1.11 in the long run.

Bob Stan
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