Elliott waves analysis – GBP/USD. The pound is poised for an impulsive movement.

The situation with the considered pair unfolded similarly to EUR/USD during the last trading day. There was pressure from the dollar, leading to a decline to a local minimum, followed by a rebound and return to the local maximum.

It is likely that the price will continue to rise in the near future. This is due to the formation of the third wave in the emerging upward impulse. The potential for movement is interesting enough to consider participating in this possible movement. Therefore, it is recommended to consider the possibility of entering buy positions.