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We're short for now

We're short for now | 03 November 2023

03 November 2023, GBP/USD

We're short for now

GBPUSD is currently experiencing a bearish impulsive phase, with the price nearing a resistance zone at 1.2263. Our expectation is for the price to face rejection at this zone, followed by a subsequent downward impulsive movement targeting the support zone at 1.1995. This level represents our target for the outer major impulsive wave 'V.' For a potential short position, you might consider entry below 1.2152, setting a target at 1.1995. It's important to note that this setup would become invalid if the price breaks and closes above the resistance zone of 1.2263.

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We're short for now

Bob Stan
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