GBPUSD remains in an impulsive phase, with a notable upward movement from major wave “IV” at 1.2606. The market is currently forming a falling wedge pattern, indicating a potential bullish reversal.
Our expectation is for the market to establish a double bottom at 1.2662, which will serve as a confirmation signal for entering a buy trade. Our target for the major impulsive wave “V” is set at 1.3035. Therefore, it is advisable to wait for the formation of the double bottom pattern before considering a buy trade.
Origin: FreshForex
