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