Elliott waves analysis – GBP/USD. The pound managed to withstand pressure.

The British pound, unlike the dollar and euro, didn’t succumb to the pressure. The upward momentum that began was abruptly halted, but sellers failed to push the price below the local minimum. Thus, the chances of realizing the previously considered bullish scenario remain.

However, before the expected rise, sellers may attempt another downward push. If this doesn’t occur, then around 1.2650, there may be another opportunity to consider entering buy positions.

The targets remain the same, aiming for at least an update of the current maximum.