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We're Sellers for now | 10 November 2023

10 November 2023, GBP/USD

We're Sellers for now

On GBPUSD, which is currently in an impulsive phase, we can see the price dropping impulsively to the downside just after the consolidation at 1.2273. The price has also broken below the support zone of 1.2331, confirming that bears are in control. We expect the price to drop impulsively to the downside from the resistance zone of 1.2252, targeting 1.1882. You might consider placing a short position with your first profit target at the support zone of 1.2067 and the final take profit at 1.1882.

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We're Sellers for now

Bob Stan
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