GBPUSD – The dollar continues to strengthen

27.09.2023

The pound as well as the euro can’t oppose the strengthening of the dollar, so the pair also continues to decline. So far, no significant changes have occurred, so the movement is still considered as wave 3 of [c] of (ii).

A corrective rebound is possible soon, after which the decline will resume. The final reversal is seen later.

The expected pattern of price movement is marked on the above chart.

In this situation, it is recommended not to take any trading actions and watch the development of the situation from the side.

Recommendations: flat.