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GBP/USD. The situation is developing according to the planned plan.

GBP/USD. The situation is developing according to the planned plan. | 10 September 2024

10 September 2024, GBP/USD

GBP/USD. The situation is developing according to the planned plan.

If the decline in EUR/USD looks undesirable, then here such a movement was necessary. This is due to the formation of a corrective wave, the development of which was expected. Now we are observing how the price goes down, leaving behind a trace in the form of a zigzag. Apparently, this forms the supposed wave 2. It is still likely to be incomplete, and therefore the price drop will continue in the future.
As a result, it is not worth rushing to make trading decisions yet. You need to wait for the beginning of the upright movement, which may be part of the impulsive wave 3, and only after that look for opportunities to buy.
Until that moment, it’s better to stay aside and follow the events without being an active participant in the market.
Investment idea: flat.
Bob Stan
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