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GBP/USD. The development of the upward correction continues.

GBP/USD. The development of the upward correction continues. | 05 April 2024

05 April 2024, GBP/USD

GBP/USD. The development of the upward correction continues.

The trading pair in question has chosen not to invent anything new, continuing to realize a scenario similar to what we observe with the EUR/USD pair. At the moment, it is likely that a correction within the forming zigzag, which is wave [b], is taking place.
This may take some time, and most likely, today and the start of the new trading week will be spent on completing the formation of this intermediate correction.
Then, the upward movement will be resumed, and here it will be possible to look for opportunities to enter into a buying transaction with the aim of capturing the movement in the second part of the correctional rise.
Until that moment, it is recommended to stay out of the market and watch the development of events from the sidelines.
Investment idea: flat.
Bob Stan
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