Elliott waves analysis – GBP/USD. The price remains within the expected scenario.

For the GBP/USD pair, it seems like nothing significantly important has occurred. The price continued its decline, staying within the bounds of the considered ascending ending diagonal triangle. Presumably, in this pattern, wave 4 is forming. There is still room for maneuver for the price, so in the near future, we may witness further downward movement towards the lower boundary of the outlined pattern.

Afterward, it will be necessary to observe the price reaction at this kind of support level. If there is increased buying activity, opportunities for buying may be considered.

Until that moment, it is not recommended to make any trading decisions.