The situation with the GBP/USD pair is unfolding according to the previously considered scenario. Buyers have overcome pressure from the dollar and have successfully counterattacked. The decline, which was corrective in nature and took the form of a simple zigzag, is likely completed.

The recent surge in activity from the British currency could be the start of a prolonged upward movement. In the near future, the price may slightly correct downwards or stagnate sideways, then start rising again forming the next waves of the emerging impulse.

In this situation, it is not recommended to open new buy trades yet. It is advisable to wait for the indicated correction phase to form and see how sellers react to the recent jump in the pound’s rate.

Recommendations: Flat.