We're short for now | 17 May 2023
17 May 2023, GBP/USD
GBPUSD has been following our previous analysis from yesterday (16/5/2023), moving as expected. Looking at the chart, we can observe a bearish trend, with the market currently forming the impulsive major wave "V". Our projection is for the price to continue its downward movement, possibly reaching our target of 1.2380 by the end of today. This level is where we anticipate the impulsive phase to conclude. If you are currently holding a sell trade, it is advisable to adjust your stop loss to break even and set your take profit at 1.2380.GBPUSD has been following our previous analysis from yesterday (16/5/2023), moving as expected. Looking at the chart, we can observe a bearish trend, with the market currently forming the impulsive major wave "V". Our projection is for the price to continue its downward movement, possibly reaching our target of 1.2380 by the end of today. This level is where we anticipate the impulsive phase to conclude. If you are currently holding a sell trade, it is advisable to adjust your stop loss to break even and set your take profit at 1.2380.
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.
