GBPUSD – Flat
GBPUSD is in a corrective phase, the market formed a descending channel from the begging of the major impulsive wave (1) to the end of the major impulsive wave (5), this is a bullish pattern. And as we can see on the chart above the market has already broken above the upper trendline of this descending channel. Again, the market broke above a major zone /resistance level at 1.2065 and retested this is a clear signal that the market is bullish. You can enter buy trades now with your take profit at 1.2389.
Trade Recommendations:
We’re buyers for now.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
