GBP/USD. Corrective decline. | 26 September 2024
26 September 2024, GBP/USD
The situation on the considered pair is also developing within the expected framework. The price, which is in an uptrend, did not encounter another attempt by sellers to exert pressure on it. And this attempt is proving successful so far, the price has moved down. However, this decline is seen as corrective, as it forms within wave 3, being its integral part.
In this case, after some time wandering aimlessly within the current price values, the pair will start growing again, aiming for new highs.
Given this, trading in the current situation is not recommended. It is necessary to wait for the completion of the development of this supposed correction and, upon signs of a renewal of the uptrend movement, try to buy.
Investment idea: flat.
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.
