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We're buyers | 30 January 2023

30 January 2023, GBP/USD

We're buyers

GBPUSD has been on an uptrend since last week, and the market is yet to complete the V major waves. The market has been forming an expanding channel from major wave III,1.24359, up to 1.23984 where the market is ay now. I expect the market to continue moving to the upside up to around 1.24138 where I expect it to form a double top before reversing to the downside to around 1.22638. Should the market break above 1.24138 which is a major zone, this setup will be invalidated and we will be now looking for buying opportunities.

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We're buyers

Bob Stan
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