We're short for now | 22 May 2023

22 May 2023, GBP/USD

GBPUSD is currently dropping. The market is in a corrective phase, specifically the ABC corrective pattern. The price is currently forming impulsive wave B. I anticipate the price to establish a bullish continuation pattern, such as a double top or an inverse head and shoulders pattern, at the level of minor corrective wave B, which is at 1.2424. Following this pattern formation, I expect the price to rise toward 1.2530. Our strategy is to wait for the market to complete the formation of the minor corrective wave B and provide us with a bullish confirmation signal before entering a buy trade. Until then, we will refrain from placing any trades.

Trade Recommendations:

We're short for now

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus