GBPUSD – Flat
GBPUSD is currently very bearish. The market is in an impulsive phase. As we can see from the chart above, the market is currently forming a corrective major outer wave ‚V‘, with our target set at 1.2610. Please note that this setup could be invalidated if the price breaks above the resistance zone at 1.2852. We expect the price to drop from 1.2809 to the support zone at 1.2628. If you do not have an active sell trade on this pair, you can place one now, with your target at 1.2628 and stop loss at 1.2936.
Trade Recommendations:
We’re on the sidelines
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
