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GBP/USD. The Situation Remains Unclear.

GBP/USD. The Situation Remains Unclear. | 14 August 2024

14 August 2024, GBP/USD

GBP/USD. The Situation Remains Unclear.

Unlike the Euro, where the upward movement was anticipated, the British Pound has been more uncertain, as the presumed correction in wave 2 appeared unclear and distorted. The price spike during yesterday's trading does not guarantee that the upward movement is impulsive and constitutes wave 3. In the near future, a reversal is possible, but the price might try to rise a bit more before that happens. Therefore, it is advisable not to rush into making any trading decisions for now.
Overall, the situation for this pair remains ambiguous, and it is not recommended for trading in the near term. Over time, the situation will become clearer, and opportunities for trading can be sought.
Investment Idea: Flat.
Bob Stan
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