We're sellers towards the previous months lowest low | 14 October 2022
14 October 2022, GBP/USD
Wave Analysis
According the daily chart attached, the British pound is currently heading to the lowerside, the idea on this chart is to keep looking for long term sell position. As much as we're looking at a possible bullish correction, we're likely not to see a break above the upper blue line, the idea is to wait for a rejection from this line, to mark an end to the corrective three wave cycle and an onset to an impulsive wave count towards the previous month's lowest low.
Trade Recommendations:
We're sellers towards the previous months lowest low
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
