The situation with this trading pair does not align well with the previously considered wave scenario, which anticipated the development of a horizontal triangle as wave [b]. Although the targets have been met, there’s no inclination for the price to fall in the near future. The Euro is clearly set to rise, and the pound is unlikely to decline at this time, especially given that the previous markup suggested a very strong downward move.

Due to these doubts, the wave structure has undergone some adjustments. It is now assumed that wave [b] will continue its development. This is not expected to be a narrow sideways movement, but rather an upward directed movement in an impulsive form on smaller timeframes.

Therefore, the current situation is also recommended as an opportunity to profit from purchases.

Recommendations: Buy 1.3020, SL 1.3090, TP 1.3160.