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Wait and sell a rebound from the upper trendline towards 1.3515.

Wait and sell a rebound from the upper trendline towards 1.3515. | 26 Juli 2021

26 Juli 2021, GBP/USD

Wait and sell a rebound from the upper trendline towards 1.3515.

Wave Analysis
Just as previously expected, the British pound pulled back to the upperside and is still below the upper trendline, while the price remains below the upper trendline, we are expecting a rebound from it to pick a possible long term sell position expecting the price to break below 1.3615. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and should breakout below 1.3515 towards 1.34 or even lower.
Trade Recommendations:
Wait and sell a rebound from the upper trendline towards 1.3515.
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