GBP/USD. The price is forming a correction. | 01 May 2024

01 May 2024, GBP/USD

GBP/USD. The price is forming a correction.

The British currency also failed to rise and set a local maximum. Instead, the price moved even lower. It is likely that this marks the beginning of a correction, formed by the ascending impulse wave.
If this is indeed the case, we are unlikely to see any directional movement in the near future. The price will likely be tossed back and forth predominantly in a downward direction.
Attempting to catch anything in this local storm is dubious, so it is recommended to continue observing the situation from the sidelines and wait for a favorable moment to enter into a promising trading deal.
Investment idea: Flat.
Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus