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GBP/USD. Impulsive growth may continue after a small correction.

GBP/USD. Impulsive growth may continue after a small correction. | 23 September 2024

23 September 2024, GBP/USD

GBP/USD. Impulsive growth may continue after a small correction.

Significant changes in the course of the last trading day of the past week did not occur. Buyers maintain control over the current situation and, judging by everything, do not intend to give it up.
This is due to the development of an elongating wave [iii], where currently, presumably, the formation of its third wave is underway. Right now it is just beginning its development, so the price growth will continue in the near future.
Given this, concluding purchase transactions looks like a very promising trading solution, but it's better to wait for a corrective pullback in this situation and buy on this decline, as there is a risk of immediately ending up in a drawdown.
Investment idea: buy 1.3260, stop loss 1.3230, take profit 1.3500.
Bob Stan
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