14 April 2023, GBP/USD
GBPUSD has been bullish since the beginning of this week. Currently, the market is forming the "V" major impulsive wave pattern. However, starting from the major impulsive wave (I) at 1.2187, the market has been moving in an ascending channel, which is a bearish reversal pattern. Additionally, the price has formed a bearish pattern, indicated by a small ascending channel within this ascending channel, ranging from 1.2482 to 1.2535. This pair will likely experience a slight drop to around 1.2488 before continuing with the bullish trend up to 1.2649.
Trade Recommendations:
We're long