GBPUSD – Flat
Wave Analysis
GBPUSD is on an uptrend the market has formed the V impulsive major waves. The market moved in form of an ascending channel from 1.20851 to 1.24417. Ascending channels signal trend reversal to the downside. It’s okay to enter a trade after the market has broken out of the channel, in this case, the market has already broken out of the channel, and it’s currently retesting. I expect the market to move up to 1.24369, where it is likely to form a double top before selling in form of minor corrective 3 waves pattern.
Trade Recommendation:
We’re short
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
