GBPUSD – Price starts to get stuck in a corrective sidewall

19.07.2023

On the pair in question, the situation is so that the development of wave 3 of the upward impulse may be completed. The observed slow downward price slide seems to be a part of the corrective wave 4.

Then within the nearest time we may see trading in a certain price range with a slight downward slope within the development of this correction.

In this regard, it is not recommended to make any trading decisions. It is necessary to wait for the completion of the correction formation and try to buy while waiting for wave 5.

Recommendations: flat.