GBP/USD. The development of the fourth wave of the upward impulse continues. | 31 January 2025

During the previous trading day, there were no significant changes in the price movement. Buyers, as with the euro, attempted to push the price up, but nothing substantial came out of it. Their opponents managed to quickly extinguish the growing momentum. As a result, the correction, likely the fourth wave in the upward impulse, continued. Today also doesn’t promise anything interesting, as the correction wave looks incomplete, meaning the entire day may be spent on working through it. In this case, the directional move within the development of wave 5 will most likely be postponed until next week. Given this, it is not recommended to consider this pair for trading in the near future. Investment idea: Range.