The British pound, unlike the euro, is in no hurry to update this year’s minimums. But it has not managed to climb the broken trend line yet. This preserves the opportunity for sellers to make another attempt to push the price lower and implement the proposed wave scenario, according to which wave Y of a double zigzag is being formed at the moment.

Before a directed downward movement, there is a high probability of sideways development, therefore, it is hardly worth considering this pair for trading in the near future.

Consequently, it is recommended to stay out of trading positions for now.

Investment idea: flat.