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We're short for now

We're short for now | 27 October 2023

27 October 2023, GBP/USD

We're short for now

GBPUSD is still in a strong downtrend. The price has been consistently dropping, as evident from the chart above. Currently, the price is at a support zone of 1.2064. We anticipate the price to break below this zone and decline further to reach the support zone at 1.1995. This level is our target for the outer major impulsive wave 'V.' It's worth noting that this pair is still within an impulsive phase, specifically the 'V' wave pattern. You may consider placing a short position below 1.2064, with a target set at 1.1995.

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We're short for now

Bob Stan
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