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GBP/USD. The price retains a certain potential for a corrective uptrend movement.

GBP/USD. The price retains a certain potential for a corrective uptrend movement. | 15 October 2024

15 October 2024, GBP/USD

GBP/USD. The price retains a certain potential for a corrective uptrend movement.

Nothing interesting, in terms of movements on the considered pair, is currently observed. The dollar is trying to push the course of the British currency even lower, but if anything happens, it is very insignificant. Chances are, the downward movement potential on this section of the price movement has been exhausted.
Buyers are preparing a response to their opponents. A corrective uptrend is expected in the near future, which may turn out to be quite good, considering the previously formed downward movement. It is also worth noting that the price is at the support level, which buyers will try to take advantage of.
Thus, it is still worth considering the current situation as a good opportunity to conclude buy deals.
Investment idea: buy 1.3065, stop loss 1.3045, take profit 1.3200.
Bob Stan
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