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Buy GBPUSD now

Buy GBPUSD now | 18 May 2023

18 May 2023, GBP/USD

Buy GBPUSD now

GBPUSD has unfolded according to our previous analysis from yesterday (18/5/2023). The impulsive phase has concluded, and the market is currently in a corrective phase. Presently, the price is situated within a significant zone of resistance at 1.2491. Observing the chart, we can observe the formation of an expanding wedge pattern in this zone, which suggests a bullish flag pattern. I anticipate the price to ascend towards 1.2437 (minor wave a), followed by a minor corrective wave b, causing a slight drop to 1.2487. Finally, the price is expected to rise again, completing this corrective phase at 1.2601.

Trade Recommendation:

Buy GBPUSD now

Bob Stan
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