GBP/USD. A significant decline seems imminent. | 21 Diciembre 2023
21 Diciembre 2023, GBP/USD
Earlier, it was anticipated that wave c of [y] of (x) would form as a fairly prolonged impulse. However, the pressure from the dollar is preventing buyers from realizing this scenario. It is likely that the situation will be limited to the fact that a new high was reached, and this wave is indeed c of [y] of (x).
In the near future, we may witness an extended decline aimed at forming a zigzag, which is the second part and wave (y) in the presumed double zigzag.
Thus, if this assumption proves correct, entering sell positions could be a highly profitable trading decision, and this opportunity is worth considering. Opening positions is recommended after the formation of a small correction, as schematically indicated on the chart, or based on current market values but with small volumes.
Investment idea: Sell at 1.2625, stop loss at 1.2665, take profit at 1.2050.
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.
