We're short for now | 23 Octubre 2023
23 Octubre 2023, GBP/USD
GBPUSD is currently in an impulsive phase. The market remains within the bear flag pattern, indicating that this pair is likely to continue its decline, potentially reaching the support zone at 1.2071. The price is following the bearish impulsive pattern, specifically the V-wave pattern. From the chart above, it's evident that the price is forming the major outer wave 'V.' Our target for this move is set within a major support zone at 1.1995. You can consider placing a short position below 1.2110, with your profit target ranging from 1.2059 to 1.1995.
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.
