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GBP/USD. Expectations of impulsive price growth remain.

GBP/USD. Expectations of impulsive price growth remain. | 07 May 2024

07 May 2024, GBP/USD

GBP/USD. Expectations of impulsive price growth remain.

The situation with the considered pair remains under the control of buyers. Although nothing substantially important happened during the last trading day, and the exchange rate essentially remained at the same levels as before, buyers can activate at any moment and raise the value of the British currency to new local highs.
This could mark the beginning of an extension in the third wave of the upward impulse. In that case, the movement could be sufficiently strong and prolonged, so it's worth considering the possibility of entering buy positions at the current market levels.
Investment idea: Buy at 1.2555, stop loss at 1.2530, take profit at 1.2700.

Bob Stan
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