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GBP/USD. Pound will make another attempt to grow.

GBP/USD. Pound will make another attempt to grow. | 22 October 2024

22 October 2024, GBP/USD

GBP/USD. Pound will make another attempt to grow.

The attempt to grow for sterling also proved to be not entirely successful. With the beginning of the trading week, all the uptrend movement formed during the final trading day of the past week was nullified, and the course returned to the original point of this growth.
However, the situation looks like buyers will make another attempt to grow. This is because, presumably, the formation of a downward impulse has been completed. The ensuing growth, which was just mentioned, is likely the beginning of a corrective movement. It is expected that in the end it will take the form of a zigzag, and for this it is necessary to grow again, which buyers are quite capable of doing.
Thus, since a growth is expected during the current trading day, it is recommended to pay attention to the possibility of concluding buy deals.
Investment idea: buy 1.2990, stop loss 1.2975, take profit 1.3080.
Bob Stan
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