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We're buyers for now | 17 July 2023

17 July 2023, GBP/USD

We're buyers for now

GBPUSD has exhibited a strong bullish trend in recent weeks. The market is currently undergoing the formation of the major impulsive wave "V". Our analysis suggests continued upward momentum, with a minimum target set at 1.3259. Achieving this level will signify the completion of the impulsive phase and the initiation of the corrective phase. Traders who are currently holding profitable buy trades are advised to adjust their stop loss to breakeven and set their take profit at 1.3259. It is crucial to implement proper risk management techniques to protect trading positions.

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We're buyers for now

Bob Stan
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