GBP/USD. Price continues preparing for the development of the third impulse wave. | 12 September 2024

12 September 2024, GBP/USD

GBP/USD. Price continues preparing for the development of the third impulse wave.

The situation on the considered pair remains within the considered scenario. The price is under sales pressure and is gradually decreasing. But this decline is controlled and, likely, takes place within the formation of a correction represented by a zigzag in wave 2.
Already now this model looks completely formed, so buyers can suddenly activate at any time, leading to a sharp rise in price. Thus, the development of wave 3 of the uptrend impulsive movement will begin.
The potential of this bullish scenario is very good because it is assumed that the movement will be formed in the form of an extending wave [iii] of a higher temporal level.
Given this, it is recommended to closely monitor the situation and try to participate in this possible movement.
Investment idea: buy 1.3055, stop loss 1.3030, take profit 1.3500.
Bob Stan
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