GBPUSD – Pound begins to look for weakness in sellers’ defence

12.04.2023

Buyers decided to get active. Slow price crawl has probably fulfilled its purpose, which was to form correction which is the second wave in the impulse. Now we can see a surge of activity and the beginning of impulse growth during which wave 3 of the assumed ascending impulse will be formed.

The potential of movement looks quite interesting in terms of possible profit, so it is worth trying to participate in this movement.

It is possible to open trades either at the current market values or at the renewal of the current local high.

Recommendations: Buy 1.2520, SL 1.2500, TP 1.2700.