GBPUSD – Flat
GBPUSD is still in a strong downtrend. The price has been consistently dropping, as evident from the chart above. Currently, the price is at a support zone of 1.2064. We anticipate the price to break below this zone and decline further to reach the support zone at 1.1995. This level is our target for the outer major impulsive wave ‚V.‘ It’s worth noting that this pair is still within an impulsive phase, specifically the ‚V‘ wave pattern. You may consider placing a short position below 1.2064, with a target set at 1.1995.
Trade Recommendations:
We’re short for now
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