GBP/USD. Exiting the correction is expected in a downward direction. | 29 January 2024
29 January 2024, GBP/USD
The situation regarding the GBP/USD pair continues to remain stable. The price still struggles to determine the direction of further movement, remaining within a defined price range. The low activity is due to the formation of a correction.
Presumably, wave 2 is developing within the emerging downward impulse. Therefore, the future direction of movement will be downwards to develop the third impulse wave.
A signal for trading actions will be a breakthrough of the same level indicated on the chart.
Thus, it is necessary to be patient and wait for the activation of the specified signal to enter positions.
Investment idea: Sell at 1.2600, stop loss at 1.2630, take profit at 1.2450.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
