GBPUSD – Flat
GBPUSD is currently in the corrective phase the market is moving in form of a corrective 3-wave pattern. As we can see on the chart above the market has been correcting in the form of an ascending channel after every impulsive move to the downside, the most recent ascending channel this pair formed,(from 1.1911 to 1.2044), the market has already broken below its lower trendline, we can place sell order now with our profit targets at the minor corrective wave c 1.1679. The price reaching this zone (1.1679), will mark the end of the corrective phase.
Trade Recommendations:
We’re short
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
