GBP/USD: a possibility to buy the GBP
Read the article on FBS website
Recommendation:
BUY 1.32
SL 1.3145
TP1 1.3295 TP2 1.3395 TP3 1.3515
On the daily chart of GBP/USD, bears couldn’t pull the pair out of the upward channel and break below 1.3065. It became a signal of their weakness. Bulls are counterattacking and are going to break above the upper boundary of the downward channel with the following implementation of the AB=CD pattern with the 161.8% target.
On H1, the pair keeps reaching targets of the “Wolfe waves” pattern. A break of the resistance at 1.32 will let bulls move to targets of the “Wolfe waves” pattern and to 127.2% target of the AB=CD pattern.
