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We're buyers for now

We're buyers for now | 15 June 2023

15 June 2023, GBP/USD

GBPUSD continues to exhibit strong bullish sentiment. The market is still in the process of forming the impulsive major wave 'V', with a target set at 1.2986. At present, the market is approaching a resistance zone at 1.2694. The expectation is for the market to break above this zone with an impulsive move, potentially forming a bullish continuation pattern such as a double bottom. This pattern would indicate further upward momentum, supporting the notion of the market rising toward the target of 1.2986.

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We're buyers for now

Bob Stan
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