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GBP/USD. The beginning of a corrective uptrend has begun.

GBP/USD. The beginning of a corrective uptrend has begun. | 18 Oktober 2024

18 Oktober 2024, GBP/USD

GBP/USD. The beginning of a corrective uptrend has begun.

All throughout the past trading day, buyers held a heavy defense and managed to prevent further price declines, and then managed to slightly raise it. Perhaps this is how an appropriate rebound movement will begin, designed to correct the previously occurring impulsive decline.
In this case, we will see a fairly good growth, which is likely to progress in the form of a simple zigzag. This movement will be more than enough to make money on it.
Thus, the previously mentioned trading recommendation to open buy deals remains valid, but don't expect any strong and prolonged movement, as a correctional movement is expected.
Investment idea: buy 1.3020, stop loss 1.3000, take profit 1.3170.
Bob Stan
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