GBP/USD. The situation remains unchanged. | 23 January 2024
23 January 2024, GBP/USD
Unlike the euro, the British pound resisted the pressure from sellers, holding its ground. However, the situation did not change in its favor. The development of the downward impulsive movement is still anticipated, driven by the formation of wave 3, which is likely to be elongated.
Currently, we are observing the completion of the second wave within this wave 3. A breakthrough and consolidation of the price below the indicated support level would signal an opportunity to enter sell positions and confirm the proposed assumptions.
An investment idea in this regard may have the following parameters: Sell at 1.2610, stop loss at 1.2635, take profit at 1.2350.
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