Elliott waves analysis – GBP/USD. Expectations for Growth in the Fifth Wave of the Impulse Remain.

The pound, while managing to slightly rise and update the local maximum, is struggling against the strong resistance exerted by the American currency. Perhaps after overcoming this challenging stretch, the price will accelerate and rise significantly, as indicated by the current wave scenario, according to which wave 3 of [v] is currently forming.

Therefore, initiating and maintaining buy positions remains a promising trading decision. The target for the movement towards the 1.3000 level remains relevant.

Buying can be done at current market values without waiting for the breakout of any price levels.