Elliott waves analysis – GBP/USD. Third wave of the bullish impulse is in the works.

The GBP/USD pair experienced a minor pullback in the last trading session, but this doesn’t detract from the overall bullish outlook. The market is positioned for a significant rise in the third wave of the emerging bullish impulse.

The correction phase appears to be near completion, which indicates that the price is preparing to resume its upward movement. This provides a good opportunity for traders to enter buy positions at the current level of 1.2690, with a stop loss of 1.2670, aimed at a profit of 1.3200.