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We're long for now

We're long for now | 21 June 2023

21 June 2023, GBP/USD

GBPUSD is currently in a corrective phase, with the market having completed the formation of the minor wave "a" and currently in the process of forming the minor corrective wave "b". The price action has resulted in the formation of a falling wedge pattern, which is typically considered a bullish reversal pattern. Further analysis reveals the presence of a double bottom pattern in the 30-minute timeframe, specifically at 1.2721. Based on this analysis, it may be suitable to consider entering a buy order at this time. To set your trade parameters, you can place a buy order with a take profit target set at 1.2846, which aligns with the projected target for the completion of the minor corrective wave "b".

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We're long for now

Bob Stan
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