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GBP/USD. Exiting the correction is expected in a downward direction.

GBP/USD. Exiting the correction is expected in a downward direction. | 29 Enero 2024

29 Enero 2024, GBP/USD

GBP/USD. Exiting the correction is expected in a downward direction.

The situation regarding the GBP/USD pair continues to remain stable. The price still struggles to determine the direction of further movement, remaining within a defined price range. The low activity is due to the formation of a correction.
Presumably, wave 2 is developing within the emerging downward impulse. Therefore, the future direction of movement will be downwards to develop the third impulse wave.
A signal for trading actions will be a breakthrough of the same level indicated on the chart.
Thus, it is necessary to be patient and wait for the activation of the specified signal to enter positions.
Investment idea: Sell at 1.2600, stop loss at 1.2630, take profit at 1.2450.

Bob Stan
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