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