We're sellers for now | 26 Abril 2023
26 Abril 2023, GBP/USD
GBPUSD is currently very bearish. The market is currently in a corrective phase, following the ABC corrective pattern. As we can see from the chart above, the market has formed a rising wedge (which is expanding in nature), starting from minor wave "a" at 1.2350 to the end of minor corrective wave "b" at 1.2507. This is a bearish continuation pattern, indicating that the price is likely to remain bearish for the next few days. I anticipate this corrective phase to end at 1.2170. We will wait for the market to break below the lower trendline of this wedge pattern, and then place a sell order.
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.
