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We're long for now

We're long for now | 04 July 2023

04 July 2023, GBP/USD

GBPUSD remains in an impulsive phase, with a notable upward movement from major wave "IV" at 1.2606. The market is currently forming a falling wedge pattern, indicating a potential bullish reversal. Our expectation is for the market to establish a double bottom at 1.2662, which will serve as a confirmation signal for entering a buy trade. Our target for the major impulsive wave "V" is set at 1.3035. Therefore, it is advisable to wait for the formation of the double bottom pattern before considering a buy trade.

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We're long for now

Bob Stan
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