We're short for now | 17 October 2023
17 October 2023, EUR/USD
\ GBPUSD is currently in a strong downtrend. Although for the better part of yesterday, on 10/16/2023, we saw some bullish candles, the trend remains bearish. The price is in the bearish impulsive phase known as the V-wave pattern, and from the chart above, we can see that the price is forming the impulsive major outer wave 'V.' Our target for this move is within a major support zone at 1.1995. Lastly, it is important to note that you can place a short position now with your profit target at 1.2059-1.1995.
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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.
