We're sellers for now | 29 Agosto 2023
29 Agosto 2023, GBP/USD
We maintain a strong bearish outlook on GBPUSD as the price continues to decline steadily. The chart clearly illustrates the formation of a distinct bear flag, confirming the prevailing bearish sentiment in the market. The major wave 'V' is nearing completion, with the current formation focused on the impulsive wave 'V'. Our projection is for the price to decline, potentially reaching the zone around '1.2480', which serves as our target for the major impulsive wave 'V'. Consider initiating a short position, although it comes with inherent risks, and set your target 1.2480.
Trade Recommendations:
We're sellers 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.
