EURUSD – Up
GBPUSD is presently in a corrective phase, following the ABC corrective pattern. The market has formed a descending channel, typically regarded as a bullish continuation pattern. However, the current price is at a resistance zone (1.2783). Interestingly, a double bottom pattern has formed at this zone, which typically indicates a bearish sentiment. Based on this analysis, there is an expectation for the price to drop before potentially reversing to the upside. Additionally, the projected target for the reversal to the upside is at the minor corrective wave „b,“ with a target set at 1.2846.
Trade Recommendations:
We’re long temporarily
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
