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GBP/USD. An ascending impulse growth is expected.

GBP/USD. An ascending impulse growth is expected. | 04 March 2024

04 March 2024, GBP/USD

GBP/USD. An ascending impulse growth is expected.

There are no doubts that the British pound will attempt to improve its current position and, following the euro, will move towards active growth. It is not entirely clear in what form this movement will take place, but it is currently assumed to be an extension in wave [v].
It may also turn out that the mentioned wave will take the form of a terminal diagonal triangle. In this case, we can expect the development of the final wave, after which the price will start to decline again.
In any case, the probability of updating the current maximum appears to be quite high, so it is recommended to try buying at current market values.
Investment idea: Buy at 1.2670, stop loss at 1.2635, take profit at 1.3000.

Bob Stan
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