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We're short for now

We're short for now | 28 July 2023

28 July 2023, GBP/USD

We're short for now

GBPUSD is currently very bearish. The market is still in a corrective phase (ABC corrective pattern). We can see that the market is making impulsive moves to the downside from minor corrective wave 'b' at 1.2995, and it is currently forming the minor wave 'c'. We expect the market to drop impulsively down to 1.2586. Please note that this zone is our target for the minor wave 'c', and it also serves as a support zone. You can place a sell order now with your take profit at 1.2586. Use proper risk management to mitigate risks.

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We're short for now

Bob Stan
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