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We're buyers for now. | 14 March 2023

14 March 2023, GBP/USD

GBPUSD is in a corrective phase, the market formed a descending channel from the begging of the major impulsive wave (1) to the end of the major impulsive wave (5), this is a bullish pattern. And as we can see on the chart above the market has already broken above the upper trendline of this descending channel. Again, the market broke above a major zone /resistance level at 1.2065 and retested this is a clear signal that the market is bullish. You can enter buy trades now with your take profit at 1.2389.

Trade Recommendations:

We're buyers for now.

Bob Stan
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