We're on the sidelines for now expecting a bullish rally towards the previous week's highest high | 02 November 2022

02 November 2022, GBP/USD

We're on the sidelines for now expecting a bullish rally towards the previous week's highest high

Wave Analysis

Yesterday, the British pound bounced off from the lower trendline and is currently heading to the upperside. As it is right now, I expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is an onset of a bullish price rally, and may see the price continue towards the upper trendline. On the flipside, if the price breaks below the lower trendline, then a momentum towards 1.13505 is expected.

Trade Recommendations:

We're on the sidelines for now expecting a bullish rally towards the previous week's highest high.

Bob Stan
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