GBP/USD. The price will update the current minimum, and then start growing. | 03 October 2024

The situation on the considered pair also remains under bearish control. In the near future, a continuation of the price decline is expected, during which the current local minimum will be updated, after which buyers are likely to take countermeasures. It is precisely on this possible corrective uptrend movement that attention should be focused, as the remaining potential for further decline looks insignificant and it is possible to sell at a very unfavorable price. One cannot rule out the possibility that the correction will develop not as a good rebound movement, but will go into a protracted horizontal plane in a certain price channel. But even in this case, some growth will occur.

Thus, in the current situation, it is recommended to wait for the completion of the current downward cycle of movement and search for opportunities to enter buy deals with the intention of taking the corrective rebound movement.

Investment idea: flat.