Elliott waves analysis – GBP/USD. Growth is expected in the third wave of the upward impulse.

It was previously assumed that the correction development would continue and take up time until the end of the current trading week. However, buyers disagreed with this. During the past trading day, they became active and managed to raise the value of the British pound above the previously established local high. It is possible that this marks the beginning of the formation of the next wave of the upward impulse, which is the third in order, and which is often the longest.

In this case, we can see a continuation of the impulsive price growth during today’s trading day, which makes buying trades appear to be a promising trading decision.