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We're waiting for buy positions for now

We're waiting for buy positions for now | 17 October 2023

17 October 2023, GBP/USD

We're waiting for buy positions for now

EURUSD is currently in a bullish corrective phase. The market is moving in the form of the ABC corrective pattern. The market is currently forming the corrective ABC pattern. Currently, from the chart above, we can see that the price is forming the minor corrective wave 'a,' with our target at the resistance zone of 1.0742. We expect the price to rise at least up to 1.0742. You can place a long position now, with your profit target at 1.0700-1.0742. Note that this setup will be invalidated should the price break and close below the support zone of 1.0454.

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We're waiting for buy positions for now

Bob Stan
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