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We're waiting | 28 September 2023

28 September 2023, GBP/USD

We're waiting

GBPUSD has completed the bearish V major wave pattern. We expect the price to move to the upside in the form of a corrective 'ABC' pattern. We will wait for the price to form any reversal pattern at 1.2108. Then, you can place a long position at 1.2203 with your profit target at the resistance zone of 1.2181. Note that this zone is our target for minor wave 'a'. Lastly, please note that this setup will be invalidated if the price breaks below the zone at 1.2108. Ensure you use proper risk management.

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Bob Stan
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