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GBP/USD. Expectations of resumption of impulsive growth remain.

GBP/USD. Expectations of resumption of impulsive growth remain. | 11 Septiembre 2024

11 Septiembre 2024, GBP/USD

GBP/USD. Expectations of resumption of impulsive growth remain.

The situation over the past trading day did not undergo any significant changes. The price remained at the same levels, making neither an attempt to go lower nor to grow. For this reason, expectations for the further development of events remain unchanged.
Currently, it is assumed that the formation of the final part of the correction, representing a simple zigzag, also known as wave 2, is taking place. After its completion, the resumption of the impulsive growth in wave 3 is expected. The movement may be strong and prolonged, as this is an extension in the most powerful impulsive wave.
Given this, it is recommended to consider the possibility of concluding purchase transactions at prices slightly above the current values.
Investment idea: buy 1.3110, stop loss 1.3085, take profit 1.3500.
Bob Stan
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