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GBP/USD. Expected Decline in Wave C of the Zigzag.

GBP/USD. Expected Decline in Wave C of the Zigzag. | 20 Tháng sáu 2024

20 Tháng sáu 2024, GBP/USD

GBP/USD. Expected Decline in Wave C of the Zigzag.

The situation for GBP/USD has not seen any significant changes. The price likely continues to form a correction, represented by a simple zigzag, and wave b is presumably nearing completion.
If this is the case, an impulsive decline is expected soon, driven by the development of wave c, which is always impulsive in nature.
Given this scenario, it's advisable to consider entering sell positions at the current market levels. However, it’s important to note that the movement might not be extensive and could be limited to a slight update of the current local minimum.
Investment Idea: Sell 1.2705, Stop Loss 1.2720, Take Profit 1.2640
Bob Stan
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