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GBP/USD. Pound will attempt a counterattack.

GBP/USD. Pound will attempt a counterattack. | 17 October 2024

17 October 2024, GBP/USD

GBP/USD. Pound will attempt a counterattack.

The situation on the considered trading pair is developing as expected. During the past day, sellers, becoming active again and putting in certain efforts, managed to push the course even lower, thereby updating the local price minimum. This downward phase may be completed here, the impulse on the smaller timeframes is formed, and the initiative passes to buyers.
How buyers will handle this opportunity will soon become known. The situation favors a good corrective uptrend, so it is worth considering the possibility of concluding buy deals with the aim of taking this movement.
Investment idea: buy 1.3000, stop loss 1.2975, take profit 1.3230.
Bob Stan
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