We're buyers for now | 11 April 2023

11 April 2023, GBP/USD

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.

Trade Recommendations:

We're buyers for now

Bob Stan
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