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GBP/USD. Expectations of an upward impulsive movement remain.

GBP/USD. Expectations of an upward impulsive movement remain. | 14 May 2024

14 May 2024, GBP/USD

GBP/USD. Expectations of an upward impulsive movement remain.

The situation with the considered pair is developing as expected. The price managed to rise slightly during the past trading day. Thus, it is likely that wave 3 of the upward impulsive movement has begun to develop. At the moment, this wave is at the very beginning of its formation, which means we may see significant impulsive growth in the near future. Ultimately, this could lead to an update of this year's high, which presents a good potential for buying opportunities. Entering positions can be done at the current market values.
Investment idea: Buy at 1.2560, stop loss at 1.2535, take profit at 1.3000.

Bob Stan
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