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GBP/USD: The Zigzag Continues to Form.

GBP/USD: The Zigzag Continues to Form. | 19 June 2024

19 June 2024, GBP/USD

GBP/USD: The Zigzag Continues to Form.

The situation for the GBP/USD pair continues to unfold according to the previously outlined plan. The price is slightly increasing, likely forming wave b of a simple zigzag. If this is indeed the case, nothing significantly important is expected to happen in the near term. The price will continue to gradually rise until wave b is deemed complete.
After this, a directed impulsive movement is expected to form the final wave of the zigzag. This wave will provide an opportunity for trading. Until then, it is recommended to stay out of the market and continue observing the situation from the sidelines.
Investment Idea: Flat
Bob Stan
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