02 April 2024, GBP/USD
The pound, which had been under pressure from sales for a long time, eventually could not withstand it and sharply lost its positions. The long-awaited prolonged correction may not happen. The decline may be impulsive and become the beginning of the development of wave 3.
Wave 1 took the form of an initial diagonal triangle, which indicates a possible protracted nature of the observed downward movement. In this case, it is worth considering the possibility of concluding transactions for sale on updating the local minimum.
Investment idea: sell 1.2530, stop loss 1.2555, take profit 1.2400.
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