GBP/USD The pound is rapidly weakening. | 02 April 2024
02 April 2024, GBP/USD
The pound, which had been under pressure from sales for a long time, eventually could not withstand it and sharply lost its positions. The long-awaited prolonged correction may not happen. The decline may be impulsive and become the beginning of the development of wave 3.
Wave 1 took the form of an initial diagonal triangle, which indicates a possible protracted nature of the observed downward movement. In this case, it is worth considering the possibility of concluding transactions for sale on updating the local minimum.
Investment idea: sell 1.2530, stop loss 1.2555, take profit 1.2400.
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.
