We are sellers towards 1.2140. | 05 May 2022

05 May 2022, GBP/USD

We are sellers towards 1.2140.

Wave Analysis:

The Great British Pound has been rallying towards the lower side,recently the price rebounded from the lower trendline at the impulsive wave cycle three towards the upper side at the corrective wave cycle four.Right now the price is on the upper trendline, I expect a further bearish momentum towards 1.2140 in continuation of the impulsive wave cycle five.If you are looking at this pair right now,pick a sell position from 1.2564 towards 1.2140.

Trade Recommendations:

We are sellers towards 1.2140.

Bob Stan
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