GBPUSD since the beginning of this week has been very bearish. Currently, the market is in a corrective phase (ABC corrective pattern.).Again, the market has also formed an ascending channel from the major impulsive wave (I),1.2197 to the end of the impulsive wave (V),1.2546.
This is a bearish reversal pattern and since the price has broken below the lower trendline of this ascending channel. This is a confirmation that the price is going to drop at least up to 1.2170.I expect the price to drop up to 1.2170.
Origin: FreshForex
