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We're short

We're short | 18 August 2023

18 August 2023, GBP/USD

We're short

We maintain a strongly bearish outlook on GBPUSD as the market approaches the completion of the major wave 'V'. The current market conditions suggest the formation of the impulsive wave 'V', which is expected to drive prices down to the level of 1.2480. This zone represents our target for the major impulsive wave 'V'. If you are currently holding sell trades, we advise adjusting your stop loss to breakeven. For those looking to initiate a short position, it is advisable to consider a target range between 1.2579 and 1.2480. Please note that this is a high-risk entry, and it is crucial to implement proper risk management strategies.

Trade Recommendations:

We're short for now

Bob Stan
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