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We're short

We're short | 16 August 2023

16 August 2023, GBP/USD

We're short

GBPUSD continues to demonstrate a robust downtrend. The market remains within an impulsive phase and is currently in the process of forming the impulsive wave 'V'. Our projection is for the price to descend, potentially reaching as low as 1.2480. It's crucial to remember that this zone serves as our target for the major impulsive wave 'V'. Additionally, please note that should the price impulsively breach above the resistance zone of '1.2818', this setup would be invalidated. If you wish, you can now initiate a short position with a target range of (1.2579-1.2480). Be sure to exercise proper risk management.

Trade Recommendations:

We're short

Bob Stan
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