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GBP/USD. Market continues to work on wave 2 correction.

GBP/USD. Market continues to work on wave 2 correction. | 12 December 2024

12 December 2024, GBP/USD

GBP/USD. Market continues to work on wave 2 correction.

The development of the correction wave 2 within the emerging bullish impulse continues. Despite the lack of significant price action today, this phase of the market cycle is essential for the proper formation of subsequent bullish waves.
It is possible that this trading week ends without any notable movement, as both sides are seemingly holding back, awaiting the resolution of the correction. Once this is resolved, traders can anticipate a resurgence of upward momentum, which is likely to manifest itself in the form of the third wave of the budding bullish impulse.
Waiting for the completion of this correction phase before entering trades is advisable, as premature actions could jeopardize the integrity of the wave structure.
Investment idea: flat.
Bob Stan
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