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GBP/USD. A Small Correction is Expected.

GBP/USD. A Small Correction is Expected. | 26 April 2024

26 April 2024, GBP/USD

GBP/USD. A Small Correction is Expected.

The trading pair is moving according to the previously considered scenario. The British currency has risen against the dollar, likely forming an initial upward impulse. In this case, we might see a corrective movement in the opposite direction in the near future.
The expected trajectory of the price movement is indicated on the chart above. By default, the correction is considered as a zigzag. In this situation, it may be worth cautiously selling, aiming to profit from the anticipated pullback movement.
Investment Idea: Sell at 1.2500, with a stop loss at 1.2520, and a take profit at 1.2430.
Bob Stan
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