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Wait | 16 January 2023

16 January 2023, GBP/USD

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Wave Analysis

GBPUSD has completed forming the impulsive V Wave pattern, Now it's forming a minor corrective 3 waves pattern. The market is currently at minor corrective wave b,1.22374, at this level it has formed a double top, which increases the probability of this pair selling. I expect an impulsive move to the downside from wave b,1.22374, to 1.20649, which I expect to be the end of minor corrective wave c, You can place a sell order now at, 1.22374, or wait for the price to break below wave a that is at 1.21405.

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Bob Stan
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