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Look for a short position at 1.2327,

Look for a short position at 1.2327, | 07 November 2023

07 November 2023, GBP/USD

Look for a short position at 1.2327,

GBPUSD is presently in an impulsive phase, with the price dropping sharply to the downside from the resistance zone of 1.2375 (at Major outer wave 'IV'), as previously predicted in our analysis on '11/6/2023.' Anticipating a continued downward movement, we expect the price to descend impulsively from this resistance zone, targeting 1.1886. Consider initiating a short position at 1.2327, aiming for a profit target of 1.1886. Note that this setup will be invalidated if the price breaks above 1.2417.

Trade Recommendions:

Look for a short position at 1.2327,

Bob Stan
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