GBPUSD is currently in a bearish impulsive phase. Despite the current upward impulsive movement in price, we do not anticipate the price breaking and closing above the resistance zone at 1.2185. Instead, we expect a significant drop from the resistance zone, moving impulsively downward towards the support zone at 1.1995. This level marks our target for the outer major impulsive wave ‘V.’ Notably, this pair remains within an impulsive phase, particularly following the ‘V’ wave pattern. Consider initiating a short position below 1.2152, targeting 1.1995.
Trade Recommendations:
We’re short for now
Origin: FreshForex
