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We're sellers below 1.23781 towards 1.20

We're sellers below 1.23781 towards 1.20 | 18 September 2023

18 September 2023, GBP/USD

We're sellers below 1.23781 towards 1.20

Wave Analysis

During the previous trading day, the British pound bounced off from the level 1.24461, continued to the lowerside and is still very bearish. If the price breaks and closes below 1.23781, then we expect nothing but a possible rally much lower. The anticipated bearish price rally is the continuation of the last impulsive wave (v) and may see the price rally much lower with the next ideal target set at 1.20 and may likely extend much lower with the next ideal target set at 1.19.

Trade Recommendations:

We're sellers below 1.23781 towards 1.20

Bob Stan
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