GBP/USD. Beginning of an Upside Impulse Development. | 23 Abril 2024
23 Abril 2024, GBP/USD
During the recent trading session, the pound, under pressure from the dollar, experienced another decline, establishing a new local minimum. It appears highly likely that this was the final downward movement, during which an impulse formed, also representing wave [c] in the emerging bearish zigzag.
If this is indeed the case, we may soon witness an active phase of growth, with some of the lost positions being recovered for the pound.
Overall, the situation seems favorable for buying opportunities. Therefore, it's recommended to consider opening long positions at the current market price, as we might be at the initial stage of forming an upward impulse.
Investment Idea: Buy at 1.2355, stop loss at 1.2330, take profit at 1.2440.
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.
