Elliott waves analysis – GBP/USD: Correctional growth.

The situation continues to develop in a calm manner for this pair. During the past trading day, no significant changes occurred, so the previously considered scenario is still relevant.

It is worth recalling that at the moment it is assumed that the correction is developing, taking the form of a zigzag. Within it, a zigzag is also likely to form, the completion of which requires growth to a previously broken trend. The retest of this inclined level will lead to the beginning of an impulsive decline. But we can’t rule out the possibility that the correction will continue in a certain price range.

In the short term, it is recommended to consider the possibility of concluding transactions for purchase at current market values.