GBP/USD. A decline may soon begin. | 06 September 2024
06 September 2024, GBP/USD
The situation on the considered pair continues to develop within the framework of the previously considered wave scenario. Let us remind that, presumably, an extension is currently being formed in wave [iii] of the upward impulse. Within this extension, a corrective wave 2 is presumably developing, which takes the form of a simple zigzag.
In this model, the final wave is missing, which will be directed downwards. Thus, after a small growth, a reverse movement is expected, during which the local minimum will be updated. Schematically, the предполагаемая trajectтория of the price movement is indicated on the provided graph.
In connection with this, previously opened purchase transactions are recommended to be closed, switching to the waiting mode for a signal to sell.
Investment idea: flat.
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.
