GBP/USD. Possible Impulsive Growth in the Third Wave. | 29 July 2024
29 July 2024, GBP/USD
In the final trading day of the past week, nothing significant happened for the considered trading pair. The pressure from the dollar continued, and the British currency slightly declined. Currently, there is an attempt by buyers to correct the situation, and the price is cautiously rising.
Ultimately, the pair's growth may significantly accelerate due to the beginning of the development of wave 3 of the upward impulse. However, before this, the price may update the current minimum once more, so it is not advisable to rush into buying at current market values.
To not miss the impulsive movement, in case the growth starts from the current levels, one can focus on the breakout of the 1.2920 level.
Investment idea: buy at 1.2920, stop loss at 1.2900, take profit at 1.3050.
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.
