GBPUSD – Flat
GBPUSD is currently very bullish. The market is currently in a corrective phase (ABC corrective pattern). As we can see on the chart above, the market formed a continuation pattern (Expanding channel) from minor corrective wave „A“,1.2423 to minor corrective wave „B“,1.1820. This indicates that the market is still in a bullish trend. Now, because the price has broken above the upper trendline of this continuation pattern, it’s high time we placed the buy orders. You can place a buy order now with your take profit at 1.3582, and stop loss at 1.2263.
Trade Recommendations:
We’re buyers for now.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
