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GBP/USD. Price may slightly rise.

GBP/USD. Price may slightly rise. | 04 September 2024

04 September 2024, GBP/USD

Another promising option for the possible development of events on the considered pair would be nice to consider. It looks very much like the wave [i] formed in the form of a diverging initial diagonal triangle. Then followed an ugly correction, probably taking the form of a zigzag, and then there was another impulsive upward movement.
Based on the current situation, it can be assumed that this upward wave is wave 1 in the emerging extension. In this case, in the near future, we will see the development of the corrective wave 2, which is schematically designated as a zigzag by default.
In the near future, the price may slightly increase, after which it will go down again, as indicated in the graph provided. In this situation, you can buy at current market values and close transactions near the current maximum.
Investment idea: buy 1.3120, stop loss 1.3100, take profit 1.3180.
Bob Stan
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