We're sellers towards 1.15. | 30 Agustus 2022

30 Agustus 2022, GBP/USD

Wave Analysis:

Yesterday, the British pound showed little movements to the lowerside, and, despite the rally towards 1.16630, the pair pulled back upwards towards 38.2 % fib level, but could not breakout any higher. As it is right now, I am looking forward for a possible long term sell position, the anticipated sell position is the continuation of the last impulsive wave (5) to the lowerside and may see the price rally towards 1.1614 and will likely continue much lower.

Trade Recommendations:

We're sellers towards 1.15.

Bob Stan
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