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GBP/USD. Impulsive growth is expected.

GBP/USD. Impulsive growth is expected. | 29 February 2024

29 February 2024, GBP/USD

GBP/USD. Impulsive growth is expected.

The pound, following the euro, retreated from local highs, giving false hopes to sellers. Currently, there is an attempt to recover, which is likely to be successful, and the pound will not stop there.
In the near future, impulsive growth is expected, driven by the development of wave 3 of [v], during which the local maximum will be updated. The expected price movement trajectory is indicated in the chart above.
Therefore, initiating trading deals to buy at current market values ​​is a quite promising trading decision.
Investment idea: Buy at 1.2665, stop loss at 1.2630, take profit at 1.3000.

Bob Stan
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