GBP/USD. Expectations for the development of the third wave of the upward impulse remain. | 13 May 2024
13 May 2024, GBP/USD
The situation regarding the GBP/USD pair is currently unfolding within the framework of the expected scenario. It's likely that the development of waves 1 and 2 has concluded, after which the price indicated its intention to rise by beginning to consolidate at an intermediate level.
Furthermore, a rise is anticipated, during which wave 3 of the upward impulse will form. This scenario aligns with the situation unfolding in the EUR/USD pair, where a weakening of the dollar is expected.
In such a case, initiating buy positions upon the renewal of the current local maximum could be a very prospective trading decision.
Investment idea: Buy at 1.2540, with a stop loss at 1.2510, and a take profit at 1.2800.
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.
