GBP/USD. The pound is poised for an impulsive movement. | 03 May 2024
03 May 2024, GBP/USD
The situation with the considered pair unfolded similarly to EUR/USD during the last trading day. There was pressure from the dollar, leading to a decline to a local minimum, followed by a rebound and return to the local maximum.
It is likely that the price will continue to rise in the near future. This is due to the formation of the third wave in the emerging upward impulse. The potential for movement is interesting enough to consider participating in this possible movement. Therefore, it is recommended to consider the possibility of entering buy positions.
Investment idea: Buy at 1.2550, stop loss at 1.2520, take profit at 1.2670.
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.
