GBPUSD has been bullish since the beginning of this week. Currently, the market is in a corrective phase, displaying an ABC corrective pattern, as we predicted in our previous analysis from March 31st, 2023. The market will likely remain bullish, at least up to 1.2400.
Furthermore, the price is moving in an ascending channel, which is a reversal pattern. Once the price reaches 1.2400, it will mark the end of the corrective phase. If you are holding any buy trades, it is recommended that you take a profit at 1.2400. However, it is too risky to place any trades at this time.
Origin: FreshForex
