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GBP/USD. The pair is growing within the forming correction.

GBP/USD. The pair is growing within the forming correction. | 07 October 2024

07 October 2024, GBP/USD

GBP/USD. The pair is growing within the forming correction.

Unlike the euro, where during the past trading day, the cost of the specified currency against the dollar fell sharply, sterling did not allow this. Yes, the update of the local minimum occurred, but it was expected. However, as soon as this happened, there was an immediate reaction from buyers. As a result, almost all this decline was played back, and buyers are unlikely to stop there.
In the near future, a continuation of the growth, carrying a corrective character, is expected. At the same time, the remaining movement potential is sufficient to try to earn on it.
Given this, it is recommended to pay attention to the possibility of concluding buy deals at current market values.
Investment idea: buy 1.3125, stop loss 1.3105, take profit 1.3210.
Bob Stan
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