We are short. | 09 Juni 2022

09 Juni 2022, GBP/USD

We are short.

Wave Analysis:

This pair has been rallying towards the lower side for sometime now, previously the price rebounded from the lower trendline towards the upper trendline at the corrective wave cycle five. I expect the price to bounce back to the lower trendline around 1.1690 in continuation of the impulsive wave cycle five. However, should the price break above the upper trendline, then we expect a bullish momentum but as of now we are sellers from 1.2530 towards 1.0690.

Trade Recommendations:

We are short.

Bob Stan
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