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GBP/USD. The price remains within a corrective structure.

GBP/USD. The price remains within a corrective structure. | 19 December 2023

19 December 2023, GBP/USD

GBP/USD. The price remains within a corrective structure.

The situation with the considered pair in the short term appears similar to what we are currently observing with EUR/USD. Currently, the development of a correction in the form of a zigzag is anticipated, and after a slight increase, the price is likely not to decrease significantly. However, differences emerge afterward.
While a decline is expected in the case of the euro, here, an increase is anticipated. This is due to the formation of the final wave of [y] of [x] within a complex correction structure. To make trading decisions, it is necessary to wait for the formation of a clear situation with understandable levels for executing transactions. Until this occurs, it is recommended to remain neutral observers.
Investment idea: flat.
Bob Stan
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