Elliott waves analysis – We’re sellers

GBPUSD – Flat

GBPUSD is on a downtrend, again the market is in a corrective phase (ABC corrective pattern). I expect this p[air to drop at least up to 1.1921. Because at 1.1921 there is a major zone, the price can break below it impulsively or the price can instead be rejected hence forming a double bottom which is a bullish pattern. Should the price break below this major zone impulsively, the price will likely drop further up to minor corrective wave c,1.1679. You can place sell orders now with your profit target at 1.1921.

Trade Reommendations:

We’re short

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