GBP/USD. Impulsive Growth Expected to Resume. | 26 July 2024
26 July 2024, GBP/USD
The value of the British currency continued to decline. The retracement is getting deeper, and sellers might not be done yet. During today's trading session, the price may continue to fall, but the potential for this movement seems limited, so it is not advisable to focus on making selling trades.
An uptick is expected soon, which is intended to form wave 3 of the presumed upward impulse. The potential movement within the development of this wave looks quite promising for attempting to actively participate.
A good situation for buying may arise either at the end of the current day or early next trading week. Reaching the 1.2900 level is also a buy signal.
Investment idea: buy at 1.2900, stop loss at 1.2875, take profit at 1.3050.
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