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We're short for now

We're short for now | 06 October 2023

06 October 2023, GBP/USD

We're short for now

GBPUSD is currently in a phase where, as shown on the chart above, we can see that the price seems to be forming a reversal pattern. The price is in the impulsive phase known as the V-wave pattern, and, as indicated on the chart, we can see that the price is forming the impulsive major outer wave 'V.' Our target for this move is within a major support zone at 1.1995. Lastly, it is important to note that you can place a short position now, with your profit target at 1.1995. If you are holding a short position, consider moving the stop loss to breakeven.

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We're short for now

Bob Stan
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