GBP/USD. A decline in the fifth wave of the impulse will continue. | 21 Noviembre 2024
21 Noviembre 2024, GBP/USD
The attempt to rise turned out to be unsuccessful for the British currency, which was expected. The current wave scenario suggests that a downward impulse is currently developing, which is also wave [c] in a bearish zigzag. In this impulse, presumably, the formation of the fourth wave ended with growth, and the current decline takes on the role of the fifth final wave.
As long as this wave is not complete, the downward movement will continue in the near future, leading to another update of the current local minimum. For this reason, it is recommended to keep open sell positions in operation. You can also consider entering additional transactions.
Investment idea: sell 1.2630, stop loss 1.2650, take profit 1.2570.
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.
