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GBP/USD. Expectations of a decline in wave 3 persist.

GBP/USD. Expectations of a decline in wave 3 persist. | 24 January 2024

24 January 2024, GBP/USD

GBP/USD. Expectations of a decline in wave 3 persist.

Unlike the Euro, the situation with the considered pair has not undergone any significant changes, so let's continue to consider the same scenario as before. Apparently, the correction is still in progress. Wave 2 may shift slightly to the right, but confirmation in the form of a decline is needed.
Confirmation of the implementation of the anticipated wave 3 will be a breakthrough of the indicated support level on the chart. This event may also serve as a signal to enter into selling transactions.
However, before that, the price is likely to rise to the local maximum, around 1.2790.
Investment idea: Sell at 1.2600, stop loss at 1.2630, take profit at 1.2350.

Bob Stan
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