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We're long for now

We're long for now | 22 February 2023

22 February 2023, GBP/USD

We're long for now

GBPUSD has been bullish since the beginning of this week. Since we are in a corrective phase I expect this bullish trend to be short-term. The market formed an inverse head and shoulder pattern just as we had anticipated. The market is likely to buy up to 1.2267, form a double top then drop up to 1.1189. if you are holding any buy order I'd advise you to close it at 1.2267. Lastly, should the market fail to form ad double top at 1.2267, and instead break above that level, this setup will be invalidated.

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We're long for now

Bob Stan
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