GBP/USD. Correctional growth in the form of a zigzag. | 04 Abril 2024
04 Abril 2024, GBP/USD
The pound managed to recover from the recent sharp decline, taking the initiative into its own hands. This swift rise has cast doubt on the previously considered scenario of downward impulsive movement.
Perhaps the situation is developing as follows. The formation of a downward impulse, representing wave [a] in an emerging zigzag, has completed. The observed growth during the last trading day is part of wave [b], meaning the upward movement is not yet complete.
The price will continue to rise for some time, after which there will be a renewed phase of active decline with a new low set by wave [a].
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.
