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We're sellers | 08 November 2023

08 November 2023, GBP/USD

GBPUSD is presently in a bearish impulsive phase, as the price has broken (impulsively) and closed below the support zone of 1.2331, indicating a strongly bearish trend. We anticipate an impulsive downward movement from this resistance zone with our target set at '1.1886'. You can consider initiating a short position at 1.2260 with a profit target of '1.1886'. It's important to note that this setup will be invalidated if the price breaks above '1.2417'. Ensure you implement proper risk management.

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We're sellers

Bob Stan
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