02 December 2024, GBP/USD
The price is expectedly continuing to rise, each time updating local highs. During the past trading session, it managed to surpass the peak value set by the correction wave 4 in the previously formed bearish impulse. Buyers are unlikely to stop here. The situation implies further upward movement above the level of wave [v] of the upward impulse. It's clear that along the way, certain problems will arise, and the price will make strong retracements, but overall, the trend looks quite positive for buyers. For this reason, previously opened buy trades are recommended to be kept active. New positions should be opened when strong corrective movements occur. One such pullback is already brewing, so let's wait for it to happen and look for entry opportunities.
Investment idea: flat.
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