We're sellers for now | 19 Octubre 2023
19 Octubre 2023, GBP/USD
GBPUSD is still very bearish. The market remains within the bear flag, indicating a potential further drop, possibly down to the support zone at '1.2071'. The price is currently in a bearish impulsive phase, following the V-wave pattern, and it appears to be forming the major outer wave 'V' as shown on the chart. Our target for this move is within a major support zone at 1.1995. Please note that you can enter a short position below '1.2110' with a profit target ranging from '1.2059' to '1.1995'.
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.
