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We're short

We're short | 08 Febrero 2023

08 Febrero 2023, GBP/USD

We're short

GBPUSD has completed forming the V major waves, and the market is currently moving to the downside to form a corrective 3-wave pattern. The market also moved in form of an ascending channel which is expanding in nature from minor corrective wave a,(1.2086) to (1.2406) as we can see on the chart. The price broke out of the lower trendline of this ascending channel impulsively and retested up to (1.2405), we marked this level as a minor corrective wave b. The price has been selling from minor corrective wave b (1.2405). I expect the market to continue to drop up to around (1.1219) we will mark this point as our minor corrective wave c.

Trade Recommendations:

We're short

Bob Stan
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