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GBP/USD. The situation remains under the control of buyers

GBP/USD. The situation remains under the control of buyers | 06 March 2024

06 March 2024, GBP/USD

GBP/USD. The situation remains under the control of buyers

Yesterday's trading day for the considered pair resembled what we saw with EUR/USD. The price also began to rise and managed to update the current local maximum, after which opponents became active, starting to push the price back.
For buyers, this doesn't look critical at the moment. It's possible that an internal correction is developing within the emerging upward movement. Therefore, a strong upward impulse movement is still expected in the future, aimed at completing the formation of wave [v], and along with it, the entire impulse structure.
Investment idea: Buy at 1.2730, stop loss at 1.2700, take profit at 1.3000.

Bob Stan
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