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Wait | 31 January 2023

31 January 2023, GBP/USD

GBPUSD is on a strong uptrend.The currently is at a major support zone,1.23507. I expect the market to form a double bottom at this level then buy up to around 1.24138. You can enter a buy order now, placing your first take profit at 1.24138, because of the resistance zone at this level, should the market break above this resistance level we will enter more buys with our target at Major wave V which we expect to be at 1,25550. Lastly, should the price break below the support level of 1.23361, our setup will be invalidated and we will now be looking for short-term selling opportunities probably up to around 1.22856.

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Bob Stan
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