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We're short for now

We're short for now | 05 September 2023

05 September 2023, GBP/USD

We're short for now

We maintain a bearish outlook, and the price is currently dropping, despite a temporary correction to the upside. We do not anticipate this correction to exceed 1.2695. The price was distinctly rejected at the resistance level of 1.2746, highlighting the strength of the sellers, and it is presently on a downward trajectory. The market is in the process of forming an impulsive wave 'V,' and we anticipate the price to decline toward 1.2470. Please remember that this zone is our target for the major impulsive wave 'V.' You may consider placing a short position at 1.2565, with the target remaining at 1.2499-1.2470.

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We're short for now

Bob Stan
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