GBPUSD is still in a bullish trend. This pair is in a corrective phase that’s the ABC corrective pattern. As we can see on the chart above the market formed a bullish continuation pattern, an expanding wedge, forming a minor corrective wave “a” 1.2445 to where the market is now which is at 1.2394. Again, within this expanding wedge the market formed a descending channel, This is a bullish reversal pattern. Meaning, the bulls are in control. You can place buy orders now with your take profit at 1.3640.
Origin: FreshForex
