GBPUSD – Flat
GBPUSD is currently very bearish. The price is in the impulsive phase known as the V-wave pattern, and from the chart above, we can see that the price is forming the impulsive major outer wave ‚V.‘ Our target for this move is within a major support zone at 1.1995. Lastly, it is important to note that the price is almost reaching our target, so placing a short position now carries a high level of risk. Again, If you are holding a short position, consider moving the stop loss to breakeven to minimize risks.
Trade Recommendations:
We’re short for now
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
