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GBP/USD: Price Continues Correction Development.

GBP/USD: Price Continues Correction Development. | 18 June 2024

18 June 2024, GBP/USD

GBP/USD: Price Continues Correction Development.

After a fairly strong downward movement, the price has started to decelerate, likely indicating the beginning of the corrective phase in the anticipated zigzag pattern. The expected trajectory is almost horizontal in the near term.
Trading within this narrow price range is not feasible. Therefore, it is recommended to monitor the situation from the sidelines.
If the current local minimum is breached, consider entering short positions.
Investment Idea:Sell: 1.2655Stop Loss: 1.2670Take Profit: 1.2600
Bob Stan
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