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GBP/USD. Pound Poised to Start Rising.

GBP/USD. Pound Poised to Start Rising. | 08 August 2024

08 August 2024, GBP/USD

GBP/USD. Pound Poised to Start Rising.

The pound continues to face pressure from the dollar and is once again losing ground. In the near term, there is a high likelihood of another local minimum being reached. This attack by sellers is likely to be the last in the current time frame.
Immediately after this, an upward movement is expected. It is unlikely that the expected rise will be impulsive. The market may choose a different scenario, and the situation, which currently appears favorable for buying, could suddenly turn negative.
At this moment, there is a good opportunity to open buy positions on the renewal of the current local minimum.
Investment Idea: Buy at 1.2660, stop loss at 1.2630, take profit at 1.2800.
Bob Stan
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