Elliott waves analysis – GBP/USD. The price is preparing to update the highs.

The situation with this pair is developing positively for buyers. The price has increased and is targeting an update of the current highs. This is supported by the fact that the movement is currently in wave [iii], which has just begun its development. If this assumption is correct, the price will likely rise a bit more in the near future before entering a corrective decline. This is where opportunities for profitable trading deals should be sought. For now, it is recommended to observe the completion of this part of the impulsive growth from the sidelines.