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We're waiting for a rebound from the lower trendline to pick a buy position towards the upper trendline.

We're waiting for a rebound from the lower trendline to pick a buy position towards the upper trendline. | 11 November 2022

11 November 2022, GBP/USD

We're waiting for a rebound from the lower trendline to pick a buy position towards the upper trendline.

Wave Analysis

During the previous trading day, the British pound pulled back to the lowerside but is still above the lower moving average. As long as the price remains above it, we expect nothing but a possible momentum to the upperside towards the upper trendline. If the upper trendline is broken, then further momentum to the upperside is expected with the next ideal target set around 1.24110.

Trade Recommendations:

We're waiting for a rebound from the lower trendline to pick a buy position towards the upper trendline.

Bob Stan
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