We're buyers | 10 April 2023

10 April 2023, GBP/USD

We're buyers

GBPUSD is currently in a bullish trend. The market is in a corrective phase (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, if we can check in the lower time frame (4H timeframe), we can see that the market is currently correcting to the downside inform of a descending channel, this is a bullish reversal pattern. I expect this pair to buy up to 1.3640.

Trade Recommendations:

We're buyers

Bob Stan
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