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GBP/USD: Bullish Scenario Remains Relevant.

GBP/USD: Bullish Scenario Remains Relevant. | 07 June 2024

07 June 2024, GBP/USD

GBP/USD: Bullish Scenario Remains Relevant.

The current situation for this pair is similar to what we see with EUR/USD. Nothing significantly important happened during the past trading day; the price remained in a very narrow range throughout the day, without deciding which direction to move next.
The decision was postponed for some time. Perhaps today we will see a resolution. For now, the bullish scenario remains relevant in the near term.
A rise is expected, driven by the development of the final wave 5 of the ascending impulse. Following this, a corrective pullback movement is anticipated. In this situation, it is advisable to try buying on the update of the local maximum.
Investment Idea: Buy at 1.2810, stop loss at 1.2790, take profit at 1.2890.

Bob Stan
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