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GBP/USD. Expectations of Impulsive Growth Remain.

GBP/USD. Expectations of Impulsive Growth Remain. | 21 February 2024

21 February 2024, GBP/USD

GBP/USD. Expectations of Impulsive Growth Remain.

Buyers' sentiment remains strong for the GBP/USD pair. Overall, the wave pattern remains the same, with an expected rise within the development of wave [v] of the presumed impulse. However, the price remains within a correction.
For greater confidence in buying, it is necessary for the price to overcome the local maximum around 1.2690. This could lead to an extension within the third wave of the impulse forming part of wave [v]. Such an extension could result in even stronger and more prolonged movement, making potential purchases worth considering.
You can enter positions either at current market values or upon the breakout of the indicated local maximum, which is a safer option.
Investment idea: Buy at 1.2635, stop loss at 1.2600, take profit at 1.3000.

Bob Stan
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