We're short for now | 16 Octubre 2023
16 Octubre 2023, GBP/USD
GBPUSD is currently in a strong downtrend. The price is within the bearish 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 you can place a short position now with your profit target set between 1.2059 and 1.1995. If you are holding a short position, consider moving the stop loss to breakeven. Use proper risk management.
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.
