We're sellers for now. | 08 Junio 2023
08 Junio 2023, GBP/USD
GBPUSD is presently in a corrective phase following the ABC corrective pattern. The market has completed the formation of the minor wave "a" and "b" and is currently in the process of forming the minor wave "c". Upon analyzing the chart, we can observe the formation of a rising wedge pattern, which is typically considered a bearish reversal pattern. Considering the price movement from the minor wave "a" level of 1.2366 to the current market position, it is anticipated that the market will experience a decline towards our target for the minor wave "c" at 1.2309.
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.
