GBP/USD. Expectations for upward movement in wave [v] remain. | 15 February 2024
15 February 2024, GBP/USD
![GBP/USD. Expectations for upward movement in wave [v] remain.](/netcat_files/Image/3c4f19fea04be7b857e9dfaa2c186062.png "GBP/USD. Expectations for upward movement in wave [v] remain.")
The British pound against the dollar has declined and approached the minimum. This decline is still considered as the second wave in a potential upward impulse, which is part of the larger wave [v].
However, even if the local maximum is updated, the chances of realizing the considered scenario will remain. The only change would be in the form of corrective wave [iv]. Nevertheless, opening trades at the current market values is quite risky, so it is advisable to wait for the price to meet the minimum requirements to increase the chances of a favorable outcome.
One such requirement could be the breach of the level at 1.2620. For added safety, waiting for a breakthrough of the local maximum level at 1.2690 could further reduce potential profit.
Investment idea: Buy at 1.2620, stop loss at 1.2590, take profit at 1.3000.
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.
