Look for a short position at 1.2327, | 07 November 2023
07 November 2023, GBP/USD
GBPUSD is presently in an impulsive phase, with the price dropping sharply to the downside from the resistance zone of 1.2375 (at Major outer wave 'IV'), as previously predicted in our analysis on '11/6/2023.' Anticipating a continued downward movement, we expect the price to descend impulsively from this resistance zone, targeting 1.1886. Consider initiating a short position at 1.2327, aiming for a profit target of 1.1886. Note that this setup will be invalidated if the price breaks above 1.2417.
Trade Recommendions:
Look for a short position at 1.2327,
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.
