GBP/USD. Awaiting a buy signal in the third impulse wave | 16 December 2024
16 December 2024, GBP/USD
The GBP/USD pair shows signs of a pending bullish reversal, despite the ongoing decline in the latest trading session. The price remains close to the critical level of 61.8%, which is indicative of the completion of the correction phase. This suggests that the market is gearing up for a potential upside move in the third impulse wave of the emerging bullish trend.
While waiting for a definitive signal, such as a significant bounce back, is advisable, traders can consider positioning themselves for a possible rise. An ideal entry point would be a breakout above 1.2700, indicating a strong bullish sentiment.
Investment Idea: buy 1.2800, stop loss 1.2775, take profit 1.3200.
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.
