GBPUSD – Zigzag Correction Continues to Form

03.07.2024

The price on the GBPUSD pair has not yet determined its direction. However, the overall situation here is more or less clear. It appears that a zigzag correction pattern is continuing to develop. Wave b is forming within it, and the market will continue to work on it in the near future.

In this situation, aimless price wandering will persist, so making any trading decisions is not recommended at this time. It is necessary to wait for the completion of this sideways movement and then be able to enter sell trades at the beginning of the development of wave from [ii].

Until then, it is advisable to remain neutral observers.

Recommendation: Flat.