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We are buyers towards 1.2560.

We are buyers towards 1.2560. | 06 June 2022

06 June 2022, GBP/USD

We are buyers towards 1.2560.

Wave Analysis:

The Great British Pound and the Euro seems to be moving in the same direction on hourly chat. During the previous trading days the price rallied around the upper trendline at the impulsive wave cycle three for a while but eventually bounced off towards the lower trendline at the corrective wave cycle four. As at now, the price is around the lower trendline, I expect a rebound from 1.2498 towards 1.2560 in continuation of the impulsive wav e cycle five. However, should the price break below the lower trendline, then 1.2485 would be a good place to pick a sell from.

Trade Recommendations:

We are buyers towards 1.2560.

Bob Stan
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