Elliott waves analysis – GBP/USD: The Correction Continues.

There have been no significant changes in the past trading day for the GBP/USD pair. After suffering a considerable setback, buyers managed to halt further price decline. Considering the situation with the EUR/USD pair, it can be assumed that here too, we will likely see a small sideways movement with a slight upward trend in the near future. Following this, the price is expected to decline again, breaking the current local minimum and forming a simple zigzag pattern overall.

Therefore, it is recommended to refrain from any trading actions in the near future and remain as observers.