We're short for now | 04 Octubre 2023
04 Octubre 2023, GBP/USD
GBPUSD is currently very bearish. For most of this week, the price has been consolidating. The price is in the impulsive phase known as the V-wave pattern, and from the chart above, we can see that the price is forming the impulsive major outer wave 'V.' Our target for this move is within a major support zone at 1.1995. Lastly, it is important to note that the price is almost reaching our target, so placing a short position now carries a high level of risk. If you have a short position, consider moving the stop loss to breakeven.
Trade Recommendations:
We're short 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.
