GBP/USD. Beginning of the bullish market phase. | 08 January 2025
08 January 2025, GBP/USD
The pound also failed to withstand the pressure from the US dollar, leading to an update of the minimum and cancellation of the previously considered scenario, according to which the development of a zigzag was expected. Currently, this movement looks like a full-fledged downward impulse.
Afterwards, the price rose sharply. This is probably caused by the beginning of the development of an already upward impulse. If this is indeed the case, then after some correction in the form of a zigzag, the price will soar even higher. Growth is expected within the framework of the third wave formation.
In this situation, it is recommended to open buy trades when the local maximum is updated.
Investment idea: buy 1.2575, stop loss 1.2550, take profit 1.2815.
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.
