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GBP/USD. The Price Will Continue Forming the Corrective Wave.

GBP/USD. The Price Will Continue Forming the Corrective Wave. | 30 July 2024

30 July 2024, GBP/USD

GBP/USD. The Price Will Continue Forming the Corrective Wave.

The situation with this pair developed as expected during yesterday's trading session. The price sharply moved downward and then began an equally swift upward movement. However, it failed to return to the initial point of the fall. It is likely that activity from both sides will decrease, causing the price to move horizontally for a while.
Subsequently, another wave downward is anticipated, which will complete the currently developing corrective wave 2. Therefore, considering this pair for buying in the near future is not advisable. Selling would be better after a slight rise, which might occur during today's trading session. However, the most optimal decision is to stay out of the market and observe the developments.
Investment idea: flat.
Bob Stan
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