GBP/USD: Pound Not Ready for Continued Growth Yet | 03 June 2024
03 June 2024, GBP/USD
The situation hasn't changed significantly over the past two weeks. The price movement continues within the previously considered wave scenario. It appears that the corrective wave 4 of the ascending impulse is currently developing, taking the form of a simple zigzag.
To complete this formation, a bearish wave is necessary, so it is advisable not to rush into buying. In this scenario, it is recommended to wait for the correction to finish and then look for buying opportunities in the final wave 5 of the anticipated impulsive movement.
Until then, it is best to stay on the sidelines and observe the market's developments.
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.
