We're short towards 1.16 | 17 January 2023
17 January 2023, GBP/USD
Wave Analysis
GBPUSD is currently forming a minor corrective 3 waves pattern. The market moved impulsively from major wave V, 1.24460, to point 1.18345 which we have marked as minor corrective wave a, followed by a correction to the upside up to minor corrective wave b,1.22895. We can clearly see that the market moved in form of an ascending channel from 1.22090 to 1.22895, this increases the probability of this pair selling. I expect the price to sell from minor wave b,1.22895, to 1.16625 which is likely to be our minor wave c.
Trade Recommendations:
We're short towards 1.16
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.
