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GBP/USD. The price continues to form the third impulse wave.

GBP/USD. The price continues to form the third impulse wave. | 25 September 2024

25 September 2024, GBP/USD

GBP/USD. The price continues to form the third impulse wave.

Sterling continued to rise, simultaneously updating previously established highs. This movement is more like a movement by inertia. If buyers don't receive additional driving force in the near future, their triumphant march will end, and the price will move in the opposite direction.
True, the decline is expected to be corrective, so the price is unlikely to fall significantly. All these fluctuations, presumably, are within the development of wave 3 of [iii] of the uptrend impulse. The possible trajectory of the price movement expected in the future is schematically indicated on the graph provided above.
Opening any positions at the moment is not recommended, as a corrective decline is expected, which is likely to be small. Accordingly, it seems too late to buy, and there is insignificant potential for movement for sales.
Investment idea: flat.
Bob Stan
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