The price has reached the level from which it had previously started to fall. It is possible that some kind of reaction will follow again. Then we will see a decline, which will make another significant adjustments to the wave pattern. In the meantime, continuation of growth is expected due to development of the lengthening third wave.

Breaking through above will not be easy, but it will open new opportunities and price levels that the pound will strive for. In this situation, it is advisable to make a deal on the breakdown of the level of 1.2350.

If the price starts to slowly reverse and slide down, it is likely to lead to a further continuation of the correction that has been dragging on since December of last year.

Recommendations: Buy 1.2350, SL 1.2330, TP 1.2500.