Elliott waves analysis – We’re buyers


GBPUSD is currently at a major zone/support zone (1.2041). The market is in a corrective phase (ABC corrective pattern), 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 this is a bullish pattern. You can place a buy order now with your take profit at 1.2369,(minor corrective wave c) and stop loss at 1.2008. Lastly, Should the market break below the major zone (1.2041) impulsively , this setup will be invalidated.

Trade Recommendations:

We’re buyers

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