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We're long for now

We're long for now | 27 June 2023

27 June 2023, GBP/USD

GBPUSD is currently in a corrective phase and is forming the corrective minor wave "b". The chart indicates that the market is moving within a falling wedge pattern, which is generally considered to be bullish. The expectation is for the price to drop to around 1.2690, forming a double bottom, and then reverse to the upside. The target for this upward movement is projected to be at 1.2845, marked as the completion of the minor wave "c". To take advantage of this analysis, you can consider placing a buy order once the price forms a double bottom near 1.2690. This aligns with the projected bullish reversal within the falling wedge pattern.

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We're long for now

Bob Stan
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