We're on the sidelines | 01 Agosto 2023
01 Agosto 2023, GBP/USD
GBPUSD is currently very bearish. The market is in an impulsive phase. As we can see from the chart above, the market is currently forming a corrective major outer wave 'V', with our target set at 1.2610. Please note that this setup could be invalidated if the price breaks above the resistance zone at 1.2852. We expect the price to drop from 1.2809 to the support zone at 1.2628. If you do not have an active sell trade on this pair, you can place one now, with your target at 1.2628 and stop loss at 1.2936.
Trade Recommendations:
We're on the sidelines
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.
