Elliott waves analysis – GBP/USD. The Pound Continues to Slowly Climb Upward.

The dollar is holding onto current price levels with all its might, not allowing buyers to gain momentum. However, the value of the British currency is slowly but steadily rising. Over time, it is expected that the upward movement will gain momentum, leading to the renewal of current price highs.

This is driven by the development of wave [v] of the presumed upward impulse, with wave 3 currently in progress. The further expected trajectory of price movement is indicated in the chart above.

Therefore, opening buy positions has fairly good prospects.