We're short | 21 August 2023

21 August 2023, GBP/USD

We're short

GBPUSD remains strongly bearish, with the market nearing the completion of major wave 'V.' Currently, the market is in the process of forming the impulsive wave 'V.' Our projection indicates a potential price drop down to 1.2480 – a zone that corresponds to our target for the major impulsive wave 'V.' If you are already holding sell trades, it's advisable to adjust the stop loss to breakeven. Additionally, you may consider initiating a short position at this point, setting your target within the range of 1.2579 to 1.2480. It is crucial to implement proper risk management practices.

Trade Recommendations:

We're short for now

Bob Stan
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