GBPUSD – Flat
GBPUSD was on a downtrend for the whole of last week, the market is in a 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).To complete a full corrective pattern, The price is likely to drop from where it is now (1.1929) up to 1.1679. You can place a sell order now. Place your stop loss at 1.1993 and take profit at 1.1679.
Trade Recommendations
We’re short
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
