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GBP/USD. Uncertainty in the Current Situation Remains.

GBP/USD. Uncertainty in the Current Situation Remains. | 01 August 2024

01 August 2024, GBP/USD

GBP/USD. Uncertainty in the Current Situation Remains.

The previous trading day for this pair was uneventful and didn't stand out in any particular way. The price made a weak attempt to rise, to which sellers responded just as weakly, and that was the end of it. The price remains in limbo: on one hand, there is a good opportunity to break out of the current pullback and start developing wave 3 of the upward impulse; on the other hand, wave 2 seems incomplete, and updating the current minimum would contribute to developing a more coherent wave structure.
Due to this uncertainty, I would not recommend considering this instrument for trading in the near future. Perhaps next week will provide some clarity, and then it will be possible to attempt opening trades.
Investment idea: flat.
Bob Stan
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