GBPUSD has exhibited a bearish trend for the majority of this week. However, there are indications that the trend is shifting, as the market has completed the formation of the bearish impulsive (V) wave pattern. We now anticipate a bullish ABC corrective pattern to follow.
The current price is situated at the major/outer impulsive wave (V). I expect the price to rise, with a minimum target of 1.2487. It’s important to note that if the price falls below the major impulsive wave (V) level at 1.2389, this particular setup will be invalidated
Origin: FreshForex
