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We're buyers for now | 11 September 2023

11 September 2023, GBP/USD

We're buyers for now

GBPUSD is likely to experience a bullish move, and we expect a rise in price. Currently, the price is at the major outer wave "V" at 1.2449. We anticipate the price to ascend in the form of a corrective minor three-wave pattern known as the ABC pattern. You may consider opening a long position at 1.2520 with a target range of 1.2667 to 1.2694. It's essential to note that the price is presently at a support zone (1.2449), and if the price breaks below this zone impulsively and closes below it, this setup will be invalidated.

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We're buyers for now

Bob Stan
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