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GBP/USD. Possibly the beginning of a corrective growth.

GBP/USD. Possibly the beginning of a corrective growth. | 18 November 2024

18 November 2024, GBP/USD

The final trading day of the past week was under bearish control. The price continued to decline, but there was no enthusiasm in this. Although there was an update of the local minimum, the nature of the movement turned out to be very sluggish. This likely indicates an approaching response from buyers, which will lead to some price rebound.
This scenario fits well into the current wave scenario, where, presumably, the final part of the zigzag wave [c] is forming, which in turn takes an impulse form. This impulse lacks one correctional and one impulse wave. For this reason, a sharp activation of buyers is expected in the near future, leading to growth.
Therefore, it is worth trying to enter buy transactions at current market values with a small target for this corrective rebound.
Investment idea: buy 1.2635, stop loss 1.2610, take profit 1.2720.
Bob Stan
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