GBP/USD. Development of a small correction is expected. | 06 February 2025
06 February 2025, GBP/USD
The situation with this pair is also developing within the framework of the previously discussed wave scenario, similar to EUR/USD. During the past day, the course not only rose but also managed to update the maximum of the current year set by the presumed Wave 3 in the forming initial diagonal triangle.
Formally, this model can be considered fully formed, but most likely, the price will attempt to go even higher. At the same time, this growth will still be part of Wave 5. However, before another surge, a correction is expected. For some time, the price will likely either stand still or move down slightly.
For this reason, it is not recommended to open any trade positions.
Investment idea: flat.
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.
