GBP/USD. There is a likelihood of a formation of an ending diagonal triangle. | 29 Diciembre 2023
29 Diciembre 2023, GBP/USD
The current unfolding situation is currently supporting the considered scenario. After a minor update of the previously established high for the current month, the price reversed and began to decline rapidly. It is probable that the fourth wave is currently forming in the ending diagonal triangle, also serving as the wave "c" of [y] of (x). If this assumption holds true, then the price may experience a slight further decline before resuming an upward movement to complete the missing fifth wave of the pattern. In this situation, it is recommended to continue staying out of any trading 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.
