We're short for now | 12 Junio 2023
12 Junio 2023, GBP/USD
GBPUSD has exhibited a bullish trend for the majority of the previous week. The pair is currently in an impulsive phase (V-wave pattern), and the chart indicates that it is at the level of major wave "IV" at (1.2589). The expectation is for the price to form a bearish reversal pattern, potentially a double top, at this level. Following the formation of the bearish reversal pattern, the projection is for the price to drop impulsively towards the target of the major impulsive wave "V" at (1.2421).
Trade Recommendations:
We're short 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.
