Elliott waves analysis – GBP/USD. Price in the Last Stage of Bearish Zigzag Development.

The developments for this currency pair seem to have unfolded as expected, except perhaps for a lack of sufficient activity from buyers. Ultimately, the price significantly dropped, which is assumed to be due to the formation of the final part of the ongoing correction, taking the form of a simple zigzag.

However, in the near future, we are likely to see another small bearish wave intended to complete the formation of wave [c]. But this movement will most likely occur after some correction, the beginning of which may already be set.

Therefore, it is advised not to rush into making trading decisions, allowing time for the price to clarify the current situation.