We're buyers towards 1.234 | 20 March 2023

20 March 2023, GBP/USD

GBPUSD is currently moving impulsively to the upside as we had predicted in our previous analysis 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, descending channels are Bullish reversal patterns. You can open a buy trade now with your first take profit at 1.2267 and second take profit at 1.2369. Your stop loss should be at 1.2126.

Trade Recommendations:

We're buyers towards 1.234

Bob Stan
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