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GBP/USD. Correctional pause before further growth.

GBP/USD. Correctional pause before further growth. | 17 September 2024

17 September 2024, GBP/USD

GBP/USD. Correctional pause before further growth.

The situation on the considered trading pair is also unfolding within the framework of the previously considered scenario. The beginning of the current trading week favored the British currency, which managed to improve its position and strengthen. Buyers are unlikely to want to stop here, so attempts to continue the uptrend will be made in the near future.
However, overcoming the maximum set by wave 1 of [iii] will be quite challenging. It is quite possible that there will be a rebound from this level and the price will remain in this light knockdown for some time, during which a correctional structure will form.
Then a successful attempt at growth, driven by the development of wave 3 of [iii], is expected.
Until then, it is recommended to stay out of the market and observe the development of events from the outside.
Investment idea: flat.
Bob Stan
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