GBPUSD – The pound keeps chances for renewal of the maximum

21.06.2023

The pair in question is expected to grow due to the development of the final part of the correction, which takes the form of a double zigzag. However with it some problems are observed. The price began to slide down, so far not critically, but if buyers do not activate, the situation in general can change greatly.

However, most likely, the price will try to rise from the current values and update the current maximum. A schematic trajectory of the price movement is shown on the chart above. It makes sense, but it is confusing, because a strong impulse decrease of the Euro/Dollar is already expected, and we are unlikely to see such a strong correlation between the pairs.

In this regard, it is recommended to buy at the renewal of the current local maximum.

Recommendations: Buy 1.2850, SL 1.2825, TP 1.3000.