GBPUSD – Flat
Wave Analysis
GBPUSD has completed forming the impulsive V-wave patterns and the market is currently for a corrective 3-wave pattern from major impulsive wave I to Major impulsive wave V the market formed a rising wedge this is considered to be a clear sign that the price will be reversing to the downside at the end of the major impulsive V waves. The price moved impulsively from major wave V,1.21696, this impulse move I believe is a minor corrective wave which I expect to end at,1,21394. I expect a correction from minor wave a 2hich will be at 1,21394, to wave by which I expect to be at 1.21495, followed by an impulse move to the downside, a move that will complete the minor corrective 3waves, and also be the minor corrective wave c that is at 1.21161.you can place a sell order at 121478 with your stop loss at 121634 at the take profit at 1.21161.
Trade Recommendations
Place a sell order at 121478 with your stop loss at 121634 at the take profit at 1.21161.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
