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GBP/USD. A corrective rebound is being prepared.

GBP/USD. A corrective rebound is being prepared. | 14 October 2024

14 October 2024, GBP/USD

GBP/USD. A corrective rebound is being prepared.

British pound, following the example of euro, did not rush to escalate events on the last trading day of the past week, postponing all active actions to the next one. At the same time, the expected growth is also expected within the framework of the development of a corrective wave structure.
Given that the downward movement turned out to be quite strong, the rebound is also expected to be quite good, and thus it can be tried to make money on it. Moreover, the price is currently at the very beginning of this expected uptrend movement.
Thus, the upcoming trading week may begin with active purchases. Deals in this situation are recommended to be opened at current market values.
Investment idea: buy 1.3070, stop loss 1.3030, take profit1.3200.
Bob Stan
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