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GBP/USD. The price is aimed at renewing this year's maximum.

GBP/USD. The price is aimed at renewing this year's maximum. | 03 September 2024

03 September 2024, GBP/USD

GBP/USD. The price is aimed at renewing this year's maximum.

Since EUR/USD suggests an upward movement, a similar expectation can be held for the considered pair. The current situation is quite favorable for buyers as well. The price has shown slight growth over the past day, likely testing grounds for more active movement. During today's trading session, activity may sharply increase, leading to a strong movement where the earlier established peak of the current year will be renewed. Subsequently, a pullback movement is expected immediately, so any long positions should be closed promptly. There is a high probability that after the executed buy trade, the market will promptly provide an opportunity to open sell positions. Investment idea: buy at 1.3155, stop loss at 1.3130, take profit at 1.3300.

Bob Stan
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