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We're sellers | 18 April 2023

18 April 2023, GBP/USD

We're sellers

GBPUSD since the beginning of this week has been very bearish. Currently, the market is in a corrective phase (ABC corrective pattern.).Again, the market has also formed an ascending channel from the major impulsive wave (I),1.2197 to the end of the impulsive wave (V),1.2546. This is a bearish reversal pattern and since the price has broken below the lower trendline of this ascending channel. This is a confirmation that the price is going to drop at least up to 1.2170.I expect the price to drop up to 1.2170.

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We're sellers

Bob Stan
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