20 September 2022, GBP/USD
Wave Analysis
During the previous trading week, the British pound rallied to the lowerside and has now pulled back towards the same zone it broke below, 1.14640-1.14266. As long as the price does not break and close above this zone, we are looking for a possible long term sell position towards 1.11 and may likely continue to the lowerside. On this chart, we are looking for a possible extension of the last impulsive wave (5) and will see the price break beyond 1.11.
Trade Recommendations:
We're watching for a possible long term sell position towards 1.11.