GBPUSD – Flat
Similar to the euro, the pound is unable to resist the sharply increased selling pressure, leading to a rapid weakening of its exchange rate. The price has already consolidated below the support level, but there is likely to be an attempt to retest it. Therefore, in the near future, we may see a rise towards the breached level, followed by another wave of decline, leading to further lows being established.
The downward movement is expected as part of the formation of wave 3 of the descending impulse. It is recommended to wait for the realization of the mentioned retest and to start selling again after the new extreme formed as a result of this.
Investment idea: Flat.
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