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GBP/USD. The price remains in a corrective swamp.

GBP/USD. The price remains in a corrective swamp. | 02 February 2024

02 February 2024, GBP/USD

GBP/USD. The price remains in a corrective swamp.

The price continues to trade within the previously established price range. During the last trading day, after reaching the lower boundary of the sideways movement, the price sharply reversed upwards, almost instantly returning to the local maximum.
Further, a continuation of the slight upward movement is expected, followed by another likely attempt to push the exchange rate below the designated support level.
Thus, the situation and expectations for further developments remain unchanged. Trading in this situation remains risky, so it is necessary to wait for the price to break out of the established sideways range.
Investment idea: Flat.
Bob Stan
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