We are on the sidelines. | 08 April 2022

08 April 2022, GBP/USD

We are on the sidelines.

Wave Analysis:

This pair is currently on a downtrend, the price has been rallying to the lower side.Recently the price bounced off from the upper trendline at the corrective wave cycle four towards the lower side in continuation of the impulsive wave cycle five. As at now,the price is around the lower trendline, I expect a break below the lower trendline and the price to continue short.Should the price rebound to the upper side from where it is currently then I expect it to go upto the upper trendline towards 1.3580.

Trade Reccommendations:

We are on the sidelines.

Bob Stan
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