We're short for now | 17 November 2023

17 November 2023, GBP/USD

We're short for now

On GBPUSD, the pair is currently in an impulsive phase, forming the outer major impulsive wave 'V.' Despite a slight pullback to the upside (1.2376-1.2456), the overall trend remains bearish. As observed in the chart above, the price is descending from major outer wave 'v,' and we anticipate it to reach the support zone of 1.1819. This serves as our target for the major outer wave 'V.' Consider placing a short position now, with your profit target set at 1.1819. Ensure you use proper risk management.

Trade Recommendations:

We're short for now

Bob Stan
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