We're buyers for now | 19 May 2023
19 May 2023, GBP/USD
GBPUSD has exhibited a bearish trend for the majority of this week. However, there are indications that the trend is shifting, as the market has completed the formation of the bearish impulsive (V) wave pattern. We now anticipate a bullish ABC corrective pattern to follow. The current price is situated at the major/outer impulsive wave (V). I expect the price to rise, with a minimum target of 1.2487. It's important to note that if the price falls below the major impulsive wave (V) level at 1.2389, this particular setup will be invalidated
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.
