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GBP/USD. A decline may soon begin.

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.

Bob Stan
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