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Sell GBPUSD

Sell GBPUSD | 24 August 2023

24 August 2023, GBP/USD

We maintain a strongly bearish outlook as the market is nearing the completion of the major 'V' wave. Currently, the market is in the process of forming the impulsive 'V' wave. Our expectation is for the price to decline, possibly reaching as low as 1.2480. It's important to note that this zone is our target for the major impulsive 'V' wave. If you decide to enter a short position now, consider setting your target within the range of 1.2579-1.2480. Keep in mind that this setup will be invalidated if the market breaks above the resistance zone at 1.2764.

Trade Recommendations:

Sell GBPUSD

Bob Stan
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