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GBP/USD. Resumption of the uptrend movement.

GBP/USD. Resumption of the uptrend movement. | 01 October 2024

01 October 2024, GBP/USD

GBP/USD. Resumption of the uptrend movement.

The situation on the considered pair changed slightly during the past trading day. Judging by everything, the development of the correction, which is part of the uptrend wave 3, continued. At the moment, everything looks like the price is ready to continue a directed movement. In the near future, we may see a resumption of growth due to the formation of the next impulsive wave within the elongating wave 3.
Given this, it is worth considering the possibility of concluding buy deals upon updating the current local maximum.
On the first impulsive jump, opened deals should be closed, as the active phase can quickly transition into another corrective phase, and there, it is quite possible that there will be no continuation of the growth.
Investment idea: buy 1.3420, stop loss 1.3400, take profit 1.3530.
Bob Stan
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