We're short for now | 30 Oktober 2023

30 Oktober 2023, GBP/USD

We're short for now

GBPUSD is currently experiencing a bearish impulsive phase, marked by the formation of a bear flag that indicates a continuation of the bearish trend. The consistent drop in price, evident from the chart above, places the current price at a support zone of 1.2064. Our anticipation is for the price to breach this zone and further decline to reach the support zone at 1.1995, which serves as our target for the outer major impulsive wave 'V.'. For consideration, you might contemplate placing a short position below 1.2064, targeting a level of 1.1995.

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We're short for now

Bob Stan
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