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We're buyers | 22 March 2023

22 March 2023, GBP/USD

GBPUSD is very bullish though we can see the market reversed to the support zone (1.2191) the price ass still very bullish at least for today. The market is in a corrective phase ( ABC corrective pattern) as we can see on the chart above, the market formed a descending channel from the beginning of the major impulsive wave (1),1.1976 to the end of the major impulsive wave (5),1.1817. we expect the price to at least move up to the beginning of this descending channel which is at 1.1976, or at least cover 70%. You can open buy orders now with your tale profit at 1.1976. Should the price break below 1.2181 this setup will be invalidated.

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We're buyers

Bob Stan
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