We're long for now | 04 Julio 2023
04 Julio 2023, GBP/USD
GBPUSD remains in an impulsive phase, with a notable upward movement from major wave "IV" at 1.2606. The market is currently forming a falling wedge pattern, indicating a potential bullish reversal. Our expectation is for the market to establish a double bottom at 1.2662, which will serve as a confirmation signal for entering a buy trade. Our target for the major impulsive wave "V" is set at 1.3035. Therefore, it is advisable to wait for the formation of the double bottom pattern before considering a buy trade.
Trade Recommendations:
We're long 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.
