GBP/USD. Corrective decline is expected. | 09 December 2024
09 December 2024, GBP/USD
The situation with this trading pair is currently clearer. During the last trading day of the past week, the development of another active upward wave occurred, leading to the completion of the upward impulse. Likely, this is the first wave in an emerging larger, in terms of the time frame, upward impulsive movement.
Then, in the near future, a price decline is expected, leading to the development of the next wave. It is assumed that the movement will take the form of a simple zigzag. The expected price movement scheme is indicated on the chart.
For trading in this situation, sell trades should be chosen.
Investment idea: sell 1.2735, stop loss 1.2765, take profit 1.2650.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
