Elliott waves analysis – We’re short for now


GBPUSD is currently in a strong bearish trend, as the price is dropping impulsively. The chart above clearly shows that this pair is in an impulsive phase and is currently forming the major impulsive wave ‚V.‘ We anticipate the price to decline, potentially reaching the support zone at 1.2369. Our final target for the major impulsive wave ‚V‘ is set at 1.2302. You can consider initiating a short position now, with your profit target ranging from 1.2369 to 1.2302. Ensure you use proper risk management.

Trade Recommendations:

We’re short for now

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