GBP/USD. Price has initiated an upward impulsive movement. | 16 January 2025
16 January 2025, GBP/USD
The beginning of the past trading day proved to be quite fruitful for buyers. Without hesitation, they took decisive action, managing to quickly raise the value of the British pound. However, as often happens, the enthusiasm faded just as quickly, and the price retreated equally swiftly. Although sellers were unable to recoup the entire upward movement, this indicates a corrective nature to this movement.
Thus, a resumption of price growth is expected in the near future. This is likely to be driven by the formation of the third wave in an emerging upward impulse. In this case, we have a potentially very promising opportunity to enter into buy transactions.
Investment idea: Buy 1.2230, Stop Loss 1.2200, Take Profit 1.2440.
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.
