GBPUSD Selling opportunity

30 de nov. de 2022

Hello traders,

Today we want to share our view of the GBPUSD.

The long-term cycle is bearish and we believe there will be at least one more swing low or, in other words, another bearish cycle. This idea has the target of taking profit from this bearish cycle,

There are two potential paths as we showed in the graph
1- Our forecast is that GBPUSD will have to make another high before reaching the green area (which is the expected target the corrective structure WXY should reach before turning down) and then, we will sell GBPUSD
2- Alternative path- The price will not reach the area and GBPUSD has already ended 4 and it will start this last bearish cycle before reaching the green area

In both cases, in the medium term, we expect GBPUSD to go down. Therefore, we can prepare in shorting the GBPUSD soon.

TRS team