GBP/USD. Uncertainty in the Current Situation Remains.
GBP/USD. Uncertainty in the Current Situation Remains. | 01 Agustus 2024
01 Agustus 2024, GBP/USD
The previous trading day for this pair was uneventful and didn't stand out in any particular way. The price made a weak attempt to rise, to which sellers responded just as weakly, and that was the end of it. The price remains in limbo: on one hand, there is a good opportunity to break out of the current pullback and start developing wave 3 of the upward impulse; on the other hand, wave 2 seems incomplete, and updating the current minimum would contribute to developing a more coherent wave structure.
Due to this uncertainty, I would not recommend considering this instrument for trading in the near future. Perhaps next week will provide some clarity, and then it will be possible to attempt opening trades.
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