We're sellers | 09 Marzo 2023
09 Marzo 2023, GBP/USD
GBPUSD is currently in a short-term downtrend. The market is in a corrective phase which is the corrective 3-wave pattern. As we can see on the chart above, the market has formed a descending channel from 1.2266 to where the market is now which is 1.1803. I expect the price to buy at least up to 1.1928 and then drop up to our corrective wave C. You can place sell limit orders at 1.1928 so that should the price reach this zone, the sell trades are activated automatically. Lastly, Should the market break below the lower trendline of this descending channel, we will enter sell trades.
Trade Recommendations:
We're sellers
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
