GBP/USD. The Correction Continues. | 28 Junio 2024
28 Junio 2024, GBP/USD
For the pair in question, it appears that the development of corrective wave b, taking the form of a converging horizontal triangle, is ongoing. In the near term, a slight rise towards the upper boundary of this triangle is possible, after which wave b can be considered complete.
Following this, the price is expected to impulsively move downwards to form wave c of [ii]. At this point, the corrective decline may be fully completed, signaling the beginning of a new bullish phase, where the pound will strengthen and rise.
This is a preliminary scenario, and the actual outcome will become clearer in due time. For now, selling on the break of the local minimum can be considered.
Investment Idea: Sell 1.2610, stop loss 1.2635, take profit 1.2540.
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.
