The surge of activity on the part of the British currency looks logical. Election of a new prime minister probably gave additional emotions and positive expectations. In addition, it is quite logical to consider the end of the development of wave iii of the downtrend and the transition to a corrective growth.

The potential of the movement looks quite decent, the price has been moving down for too long without making good corrective pullbacks.

Thus, conclusion of buy trades becomes quite a promising decision.

Recommendations: Buy 1.1600, SL 1.1575, TP 1.1800.