GBPUSD is currently moving in line with the previous analysis from June 12, 2023. The market is forming the impulsive major wave “V,” which represents the final wave of the impulsive phase. The expectation is for a corrective phase characterized by sideways movement, potentially in the form of an expanding wedge pattern.
The expanding wedge pattern is considered a bearish continuation pattern, suggesting that the market may continue its downward movement. The target for this downward move is identified as the major impulsive wave “V” at 1.2423.
Origin: FreshForex
