GBP/USD. Zigzag Development Nearing Completion. | 22 April 2024
22 April 2024, GBP/USD
Unlike the euro, which prevented the dollar from updating its current minimum, the pound weakened, leading to the establishment of a new local extreme. This was expected and fits well into the wave scenario under consideration.
It is possible that wave [c] in the zigzag is still unfolding. If this is indeed the case, this correctional pattern will soon be completed. The price may drop a little more before starting to rise.
It is not recommended to rush with trading decisions at this point. It's better to observe how events unfold over the next day or two.
Investment Idea: Flat.
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.
