We are sellers towards 1.2065. | 17 Mei 2022

17 Mei 2022, GBP/USD

Wave Analysis:

During the previous trading days, the price rallied 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 it to bounce back towards the lower side in continuation of the impulsive wave cycle five. However should the price break above the upper trendline, then we will continue long. If you are looking at this pair right now, pick a sell from 1.2341 towards 1.2065.

Trade Recommendations:

We are sellers towards 1.2065.

Bob Stan
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