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GBP/USD. The previously considered scenario remains in force for now.

GBP/USD. The previously considered scenario remains in force for now. | 18 December 2023

18 December 2023, GBP/USD

GBP/USD. The previously considered scenario remains in force for now.

The pound also failed to withstand the sharply increased pressure from the dollar, initiating a sharp downward movement. However, the overall situation still falls within the previously considered scenario, according to which the formation of the second part of an ascending double zigzag is currently underway.
Then, after the probable completion of the current correction, we may witness a resumption of the ascending impulsive movement. Therefore, it is advisable to stay out of the market for now and observe developments patiently, waiting for the emergence of any good signals for trading.
Investment idea: flat.
Bob Stan
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