We're short for now | 04 September 2023

04 September 2023, GBP/USD

We're short for now

GBPUSD remains in a strongly bearish trend, and the price is declining as predicted in last week's analysis. The price was clearly rejected at the resistance level of 1.2746, highlighting the strength of the sellers. Currently, it is continuing to drop as the market forms the impulsive wave 'V.' We anticipate the price to reach as low as 1.2470, which is our target for the major impulsive wave 'V.' You may consider establishing a short position at 1.2649, with the target remaining at 1.2499-1.2470.

Trade Recommendations:

We're short for now

Bob Stan
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