We're sellers towards the lower trendline | 16 July 2021
16 July 2021, GBP/USD
Wave Analysis
Just as we expected yesterday, the British pound rallied to the lowerside and is still very much bearish. If you are looking at this chart as we are speaking, we recomend looking for long term sell positions expecting the price to race towards the lower supportive trendline, if you have taken a possition, please hold onto this positon. At this point, buying, or holding onto a buy on this chart is a bit risky and may not be recommended, however, if the price breaks above the upper trendline, then this will be a good place to consider a possible long term buy position with our target set around 1.41.
Trade Recommendations:
We're sellers towards the lower trendline
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