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We're buyers for now.

We're buyers for now. | 05 April 2023

05 April 2023, GBP/USD

GBPUSD is currently very bullish. The market is currently in a corrective phase (ABC corrective pattern). As we can see on the chart above, the market formed a continuation pattern (Expanding channel) from minor corrective wave "A",1.2423 to minor corrective wave "B",1.1820. This indicates that the market is still in a bullish trend. Now, because the price has broken above the upper trendline of this continuation pattern, it's high time we placed the buy orders. You can place a buy order now with your take profit at 1.3582, and stop loss at 1.2263.

Trade Recommendations:

We're buyers for now.

Bob Stan
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