We're long for now | 08 September 2023

08 September 2023, GBP/USD

GBPUSD: We expect a bullish move as the price is currently at major impulse outer wave "V" at 1.2449. We anticipate the price to rise in the form of a corrective minor three-wave pattern (ABC pattern). You can consider placing a long position at 1.2520 with a target range of 1.2667 to 1.2694. Please note that the price is currently at the support zone (1.2449), and if it breaks below this zone impulsively and closes below it, this setup will be invalidated. Ensure you use proper risk management.

Trade Recommendations:

We're long for now

Bob Stan
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