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GBP/USD. The price continues to move horizontally.

GBP/USD. The price continues to move horizontally. | 26 January 2024

26 January 2024, GBP/USD

GBP/USD. The price continues to move horizontally.

Another trading day for the considered pair passed without significant changes. The price steadily continued its movement within defined boundaries, forming a horizontal trend inside a channel. This trend is driven by the formation of a correction, which likely represents the second wave in the development of a downward impulse. If this hypothesis is confirmed, the next step will be a downward breakthrough.
It is necessary to wait for the moment of a true breakthrough and the start of a directional movement. It is difficult to predict when this will happen, so it is important to exercise patience and wait for confirmation.
It is recommended to refrain from trading this pair until the price exits the established channel.
Investment idea in this context: Flat.
Bob Stan
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