GBP/USD. Beginning of the development of Wave [ii]. | 07 February 2025
07 February 2025, GBP/USD
![GBP/USD. Beginning of the development of Wave [ii].](/netcat_files/Image/42bfacb4d9a7aae9b9d0bf63e5aeb0aa.png "GBP/USD. Beginning of the development of Wave [ii].")
The price rushed to update the local high, probably to complete the formation of the initial diagonal triangle. Immediately after implementing this plan, sales hit the price again, leading to a decline in which half of the presumed Wave 5 was played out.
Thus, presumably, the formation of a correction began, which is Wave [ii] in the emerging upward impulse. Then, in the future, we may see an unsuccessful attempt by buyers to restore lost positions, followed by a move towards the starting point of Wave 5.
However, taking any trading decisions in this situation is not recommended at this time.
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.
