Elliott waves analysis – GBP/USD. Impulsive Growth in the Fifth Wave.

After an unsuccessful attempt to once again renew the current local minimum, the price is slowly but steadily rising, confirming the considered wave labeling. It is expected that the current bullish movement is part of wave [v] and represents an impulse.

In this case, the third wave is currently forming, indicating that we will likely see strong and impulsive movement in the future. Therefore, it is recommended to start opening long positions at the current market values.

The expected trajectory and target for this movement are indicated on the chart provided above. The potential for movement is quite good.