GBP/USD. The price remains in a corrective swamp. | 02 February 2024
02 February 2024, GBP/USD
The price continues to trade within the previously established price range. During the last trading day, after reaching the lower boundary of the sideways movement, the price sharply reversed upwards, almost instantly returning to the local maximum.
Further, a continuation of the slight upward movement is expected, followed by another likely attempt to push the exchange rate below the designated support level.
Thus, the situation and expectations for further developments remain unchanged. Trading in this situation remains risky, so it is necessary to wait for the price to break out of the established sideways range.
Investment idea: Flat.
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.
