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GBP/USD. The situation is unstable.

GBP/USD. The situation is unstable. | 06 November 2024

06 November 2024, GBP/USD

GBP/USD. The situation is unstable.

The current counting of votes in the presidential elections also affects the situation for the trading pair under consideration. Buyers’ attempt to go beyond the previously formed final diagonal triangle wave [c] was unsuccessful. The price quickly returned to the inside of this model.
But this does not mean anything. At any moment, the price can start rising again. This will be due to new election data. So, it is not worth taking the current situation as a guide for trading actions. It is recommended to wait for the results and then watch how events develop and make trading decisions.
Investment idea: flat.
Bob Stan
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