GBPUSD – Flat
GBPUSD has formed the full motive wave ( 5 ) waves structure). The market is currently in a corrective phase. The price has been rejected at 1.2025 and the market has reversed to the upside. I expect the price to reach 1.2189 from where it is now which is 1.2146, at this level I expect this pair to form a double top and then drop up to 1.1189. we will mark 1.1189 as our minor corrective wave c. Lastly, should the price break above 1.2189, the setup will be invalidated. We can place Sell orders at 1.2189 with our targets at 1. 1189 and stop loss at 1.2229.
Trade Recommendation:
We’re sellers
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