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GBP/USD. The development of the corrective wave is set to continue.

GBP/USD. The development of the corrective wave is set to continue. | 13 December 2023

13 December 2023, GBP/USD

GBP/USD. The development of the corrective wave is set to continue.

For the considered pair, there haven't been any significant changes over the past trading day. The price, likely similar to EUR/USD, is working on developing corrective wave 2. Expecting any directional movement in the next trading day is unlikely. More likely, the correction will continue its formation, leading to increased complexity.
It is also assumed that within the development of wave 2, the price may experience a slight increase. However, opening buy trades based on this assumption is not recommended, as the price may simply move within a narrow price range in a horizontal direction.
In the current situation, it is necessary to wait for a decrease that indicates the beginning of the development of wave 3 and look for opportunities to enter sell trades.
Investment idea: Flat.
Bob Stan
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