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We're waiting for a low risk buy position

We're waiting for a low risk buy position | 21 February 2023

21 February 2023, GBP/USD

GBPUSD has been bearish for the last few days. The market is currently in a corrective phase, the market is moving in the form of a corrective 3-wave pattern, and we expect this to continue. As we can see on the chart above, the market has formed an ascending channel from minor corrective wave a,(1.1959) to minor corrective wave b,(1.2266), Again, the market is forming an inverse head and shoulder pattern which is a bullish pattern, I expect this pair to drop up to 1.1979 to form the right shoulder then buy up to 1.2191.

Trade Recommendations:

We're waiting for a low risk buy position

Bob Stan
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