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GBP/USD. A corrective rebound is brewing.

GBP/USD. A corrective rebound is brewing. | 10 October 2024

10 October 2024, GBP/USD

GBP/USD. A corrective rebound is brewing.

While the euro looks hopeless, sterling continues to cling to any opportunity and prevent sellers from pushing the course too hard. However, it appears that the price will still go a little lower and reach the minimum set by wave [iv]. This extremum may serve as a support level, and here the development of the downward impulse, which is currently being observed, may also be completed.
Thus, after a slight decline, we may see the formation of a corrective rebound in the price, which may be sufficient for obtaining good profits from buy deals.
Given this, it is recommended to wait for this opportunity and buy.
Investment idea: buy 1.3000, stop loss 1.2975, take profit 1.3200.
Bob Stan
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