GBP/USD. Pound prepares a strong breakthrough. | 09 September 2024
09 September 2024, GBP/USD
The situation on the considered pair fully fits into the framework of the anticipated scenario. The price made an unsuccessful attempt to update the current price maximum, but getting close to it received opposition. As a result, there was a pullback to almost the original point of this minor upward movement.
Subsequently, the price is likely to continue falling and complete the formation of a zigzag, along with the supposed wave 2. After that, buyers will become active again, who can significantly raise the pound against the dollar. This is due to the development of wave 3 of [iii] of the ascending impulsive movement.
Opening transactions in this situation should be done upon updating the current maximum.
Investment idea: buy 1.3260, stop loss 1.3235, take profit 1.3500.
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.
