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We're waiting to sell a rebound from the upper trendline towards 1.3070.

We're waiting to sell a rebound from the upper trendline towards 1.3070. | 05 January 2022

05 January 2022, GBP/USD

Wave Analysis

Yesterday, the British pound rallied to the upperside but is still below the zone 1.3673-1.3619. As long as the price remains below this zone, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave count and may see the price break below 1.3870 and may extend much lower with the next ideal target set around 1.29.

Trade Recommendations:

We're waiting to sell a rebound from the upper trendline towards 1.3070.

Bob Stan
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