We're buyers for now. | 05 Abril 2023
05 Abril 2023, GBP/USD
GBPUSD is currently very bullish. The market is currently in a corrective phase (ABC corrective pattern). As we can see on the chart above, the market formed a continuation pattern (Expanding channel) from minor corrective wave "A",1.2423 to minor corrective wave "B",1.1820. This indicates that the market is still in a bullish trend. Now, because the price has broken above the upper trendline of this continuation pattern, it's high time we placed the buy orders. You can place a buy order now with your take profit at 1.3582, and stop loss at 1.2263.
Trade Recommendations:
We're buyers 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.
