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We're short for now

We're short for now | 17 October 2023

17 October 2023, EUR/USD

\ GBPUSD is currently in a strong downtrend. Although for the better part of yesterday, on 10/16/2023, we saw some bullish candles, the trend remains bearish. The price is in the bearish impulsive phase known as the V-wave pattern, and from the chart above, 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 1.2059-1.1995.

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We're short for now

Bob Stan
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