GBP/USD. The Pound Attempts to Regain Lost Ground. | 17 April 2024
17 April 2024, GBP/USD
The primary scenario for the GBP/USD pair remains bullish. According to this scenario, the current correction, which takes the form of a simple zigzag, is nearing completion. It was intended to be a response to the previously formed upward impulse movement with a final diagonal triangle as wave [v].
The correction turned out to be shallow, indicating potentially strong buying pressure. However, confirmation is needed, although I would recommend cautious buying now.
Investment Idea: Buy at 1.2435, with a stop loss at 1.2405, and a take profit target at 1.2550.
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.
