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We're pulling back upwards

We're pulling back upwards | 29 September 2023

29 September 2023, GBP/USD

We're pulling back upwards

GBPUSD is currently exhibiting strong bullish momentum. This pair is in a corrective phase following the ABC corrective pattern. Presently, the price is forming the corrective wave 'a'. We anticipate the price to rise, targeting at least the resistance zone at 1.2479 for the minor wave 'a'. If you have an active buy order and entered a long position on September 28, 2023, move the stop loss to breakeven. Alternatively, you can consider initiating a long position now with a profit target range of 1.2416 to 1.2479.

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We're pulling back upwards

Bob Stan
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