GBPUSD – Expectations for the resumption of impulsive growth remain

11.09.2024

The situation during the last trading day has not undergone any significant changes. The price remained at the same levels, neither attempting to go lower nor rising. For this reason, expectations for further developments remain unchanged.

Currently, it is presumed that the final part of the correction, forming a simple zigzag pattern and representing wave 2, is in progress. Once it is completed, an impulsive growth in wave 3 is expected to resume. This movement could be strong and long-lasting, as it represents an extension in the most powerful impulsive wave.

In light of this, it is recommended to consider opportunities for buy trades at prices slightly above current levels.

Recommendations: Buy 1.3110, SL 1.3085, TP 1.3500.