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We're short for now

We're short for now | 31 July 2023

31 July 2023, GBP/USD

We're short for now

The GBPUSD pair is exhibiting a strong bearish trend at the moment. The market is currently undergoing a corrective phase represented by the ABC corrective pattern. Notably, the market is displaying impulsive downward movements from the minor corrective wave 'b' at 1.2995, and it is presently forming the minor wave 'c'. Anticipatedly, we expect the market to continue its downward momentum, reaching 1.2586 in an impulsive manner. It's essential to acknowledge that this zone represents our target for the minor wave 'c', and it also functions as a support zone. To take advantage of this scenario, you may consider placing a sell order, setting your take profit at 1.2586.

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We're short for now

Bob Stan
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