Elliott waves analysis – GBP/USD. The price is ready to continue rising.

The pound is trying to keep up with the euro and also takes advantage of the opportunity to improve its shaky position. Buyers managed to raise the rate so much that the local maximum was updated. Probably, the development of an upward impulse movement is beginning, in which the third wave is currently forming.

Thus, the situation suggests further development of an upward impulse movement. The next stop for correction is expected after the breakdown of the wave 4 maximum in the previously formed downward impulse. The margin of movement remains sufficient to open additional buy deals.