GBPUSD – Flat
Wave Analysis
During the previous trading day, the British pound rallied to the upperside but could not break and close above the upper trendline, as long as this trendline is not clearly broken, we are waiting for a rebound from it to pick a possible long term sell position towards the lower trendline and may likely break below it. As it is right now, we are waiting for a rebound from the upper trendline to pick a sell position.
Trade Recommendations:
We’re sellers towards the lower trendline.
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