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GBP/USD. The price continues to trade within a specific range.

GBP/USD. The price continues to trade within a specific range. | 25 January 2024

25 January 2024, GBP/USD

GBP/USD. The price continues to trade within a specific range.

The most uneventful situation at the moment is unfolding precisely with the GBP/USD pair. The price is clearly staying within certain boundaries, moving horizontally inside a channel. Corrections are forming in this manner. It is believed that this correction is wave 2 in the emerging downward impulse. Therefore, the exit from it is expected to be downward.
All that remains is to wait for the moment of a true breakthrough and directional movement. It's difficult to predict when this might happen, so patience is necessary.
It is not recommended to consider this pair for trading until a breakout from the channel occurs.
Investment idea in this regard: flat.
Bob Stan
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