We're buyers for now | 10 Julio 2023
10 Julio 2023, GBP/USD
GBPUSD is currently displaying an impulsive phase, with the market forming the impulsive major wave 'V' that we have targeted at 1.2984. The current market price is approaching a resistance zone at 1.2847. We will closely monitor the price action for a break above this zone, followed by a retest, before considering entering buy orders. It is important to note that if the market fails to break above the resistance zone and instead forms a double top pattern, this setup will be invalidated, and alternative strategies may need to be considered.
Trade Recommendations:
We're buyers for now
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
