We maintain a strongly bearish view on GBPUSD. While the price has reversed to the upside, it has not yet breached the resistance zone at 1.2746. As long as the price remains below this resistance zone, the trend will continue to be bearish. The market is currently in the process of forming impulsive wave ‘V’. Our expectation is for the price to decline to around 1.2470. It’s important to note that this zone serves as our target for major impulsive wave ‘V’. If you’re considering a short position, you could initiate it now with a target range of 1.2499 to 1.2470.
Trade Recommendations:
We’re short for now
Origin: FreshForex
