GBPUSD is currently in a downtrend, and from the chart above, it appears that the price is forming a reversal pattern. The price is in the impulsive phase and from the chart above, we can see that the price is forming the impulsive major outer wave ‘V.’ Our target for this move is within a major support zone at 1.1995. Lastly, it is important to note that you can place a short position now with your profit target set at 1.1995. If you are holding a short position, consider moving the stop loss to breakeven.
Trade Recommendations:
We’re short
Origin: FreshForex
