Elliott waves analysis – GBP/USD. The development of upward impulsive growth is expected.

The situation for the GBP/USD pair is generally quite similar to that currently developing for EUR/USD. Here, too, the formation of a correction in the form of a zigzag is likely to have ended, wave [c] of which, as expected, turned out to be a downward impulse. Then, a gap formed from the opening, which was immediately overlapped. And now the price lies at the closing point of the past trading week, at the beginning of the formation of this gap, which often acts as a level, in this case, support.

In this case, during the current trading day, we may see another attempt to grow. And this growth may take the form of either a simple classic impulse or an initial diagonal triangle. The main option is the classic type of impulse, so a good upward movement is expected in the near future, in which you need to participate.