We're short for now | 15 November 2023
15 November 2023, GBP/USD
GBPUSD exhibited a bullish trend for the majority of yesterday, November 14, 2023. However, this does not alter the overall bearish trend. The pair is currently in a bearish impulsive phase, and the price is moving upward with our target set at the resistance zone of 1.2544, which represents our target for the major outer wave 'IV.' We will wait for the price to reach 1.2544 before initiating a short position with a target of 1.1660. It's important to note that if the price breaks above 1.2544, it will invalidate this setup.
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.
