GBP/USD. The Pound Continues to Slowly Climb Upward. | 27 February 2024
27 February 2024, GBP/USD
The dollar is holding onto current price levels with all its might, not allowing buyers to gain momentum. However, the value of the British currency is slowly but steadily rising. Over time, it is expected that the upward movement will gain momentum, leading to the renewal of current price highs.
This is driven by the development of wave [v] of the presumed upward impulse, with wave 3 currently in progress. The further expected trajectory of price movement is indicated in the chart above.
Therefore, opening buy positions has fairly good prospects.
Investment idea: Buy at 1.2685, set a stop loss at 1.2645, and take profit target 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.
