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We're short for now

We're short for now | 06 November 2023

06 November 2023, GBP/USD

GBPUSD is presently in an impulsive phase. From the chart above, it's evident that in recent days, the price has demonstrated a strong bullish trend, currently resting at the resistance zone of 1.2375 (Major outer wave 'IV'). Our expectation is for the price to undergo an impulsive downward movement from this resistance zone, with our target set at 1.1886. You may consider placing a short position with a profit target at 1.1886. It's important to note that this particular setup would no longer be valid if the price were to break above 1.2417.

Trade Recommendations:

We're short for now

Bob Stan
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