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We're short

We're short | 26 January 2023

26 January 2023, GBP/USD

Wave Analysis

GBPUSD is on an uptrend the market has formed the V impulsive major waves. The market moved in form of an ascending channel from 1.20851 to 1.24417. Ascending channels signal trend reversal to the downside. It's okay to enter a trade after the market has broken out of the channel, in this case, the market has already broken out of the channel, and it's currently retesting. I expect the market to move up to 1.24369, where it is likely to form a double top before selling in form of minor corrective 3 waves pattern.

Trade Recommendation:

We're short

Bob Stan
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