GBPUSD is declining as anticipated in our previous analysis from 8/15/2023. The market remains in an impulsive phase and is currently forming the impulsive wave ‘V’. Our projection is for the price to decrease, potentially reaching 1.2480. It’s important to emphasize that this zone serves as the target for the major impulsive wave ‘V’. Furthermore, it’s crucial to note that if the price were to impulsively break above the resistance zone ‘1.2818’, this setup would be invalidated. For the time being, you may consider initiating a short position with a target range of (1.2579-1.2480). Be sure to apply proper risk management practices.
Trade Recommendations:
We’re short for now
Origin: FreshForex
