GBP/USD. The development of the upward correction continues. | 05 April 2024
05 April 2024, GBP/USD
The trading pair in question has chosen not to invent anything new, continuing to realize a scenario similar to what we observe with the EUR/USD pair. At the moment, it is likely that a correction within the forming zigzag, which is wave [b], is taking place.
This may take some time, and most likely, today and the start of the new trading week will be spent on completing the formation of this intermediate correction.
Then, the upward movement will be resumed, and here it will be possible to look for opportunities to enter into a buying transaction with the aim of capturing the movement in the second part of the correctional rise.
Until that moment, it is recommended to stay out of the market and watch the development of events from the sidelines.
Investment idea: flat.
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.
