GBP/USD. Pound to Attempt a Rise. | 13 March 2024
13 March 2024, GBP/USD
Unlike the euro, the pound failed to provide a smooth corrective decline, surrendering all initiative to the American currency. As a result, this led to a fairly strong decline and the development of a deep retracement. This may be all there is to it, especially considering the bullish situation with the euro.
Thus, it can be assumed that the British pound will make a successful attempt to rise, leading to the renewal of the local maximum, as indicated on the provided chart.
In this regard, it is recommended to initiate cautious buying at the current market values.
Investment idea: Buy at 1.2790, stop loss at 1.2760, take profit at 1.2930.
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.
