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We're short for a short time

We're short for a short time | 03 August 2023

03 August 2023, GBP/USD

GBPUSD is currently bearish. The market is dropping nicely, just as we had predicted in our previous analysis. The market is forming the inner minor wave 'c', with our target set at 1.2597. Please note that this zone is also our target for the major outer wave 'IV'. We anticipate the market to drop down to 1.2597. As our target aligns with a support zone, it is important to be aware that this setup would be invalidated should the market break below 1.2597. If you currently have an active sell trade, we recommend holding it and closing it once the price reaches 1.2597.

Trade Recommendations:

We;re short for a short time

Bob Stan
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