GBP/USD. Expected Decline in Wave C of the Zigzag. | 20 June 2024
20 June 2024, GBP/USD
The situation for GBP/USD has not seen any significant changes. The price likely continues to form a correction, represented by a simple zigzag, and wave b is presumably nearing completion.
If this is the case, an impulsive decline is expected soon, driven by the development of wave c, which is always impulsive in nature.
Given this scenario, it's advisable to consider entering sell positions at the current market levels. However, it’s important to note that the movement might not be extensive and could be limited to a slight update of the current local minimum.
Investment Idea: Sell 1.2705, Stop Loss 1.2720, Take Profit 1.2640
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.
