We're sellers for now | 04 Abril 2023
04 Abril 2023, GBP/USD
GBPUSD is currently in a corrective phase (ABC corrective pattern). The market formed an ascending channel from major wave (I),1.2186 to major wave (V),1.2418, This is a bearish reversal pattern. The market has already broken below the lower trendline of this ascending channel. Currently, the market is at a major zone /Resistance zone (1.2418) expect the market to form a double top at this zone and then drop at least up to 1.2186. Lastly, should the market break above the resistance zone (1.2418). This setup will be invalidated.
Trade Recommendations:
We're sellers for now
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.
