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GBP/USD. Further upward momentum is expected.

GBP/USD. Further upward momentum is expected. | 29 November 2024

29 November 2024, GBP/USD

GBP/USD. Further upward momentum is expected.

During the last trading day, there were no significant changes in the previously considered wave pattern. Control over the current situation remained with buyers. However, the price has not yet managed to rise further. Apparently, the last trading day was spent on developing an internal correction, the exit from which is expected during today’s session.
Thus, the continuation of the upward momentum is expected, with the development of the third wave currently underway. This wave is likely to elongate, meaning we may see a very good movement in the future.
In this regard, it is worth considering the possibility of concluding additional buy transactions at current market values.
Investment idea: buy 1.2705, stop loss 1.2690, take profit 1.2850.
Bob Stan
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