Elliott waves analysis – GBP/USD. Minor Price Fluctuations Expected.

The situation with the GBP/USD pair continues to evolve within the framework of the previously discussed scenario. During the last trading session, the price experienced a slight decline, but it wasn’t critical. This is likely due to the formation of a correction on the shorter time frame.

A resumption of growth is expected in the near future, during which the current local maximum will likely be surpassed. Following that, there will likely be a retracement and a more prolonged correction.

Trading such minor movements can be risky, so it’s currently recommended to stay out of the market and observe the situation from the sidelines without taking any active trading actions.