Uncertain attempt of the pound to demonstrate upside potential speaks about the still insufficient strength of the bulls. During today’s trading day, we are expecting more active actions, given that the price is at the local minimum. The wave scenario hints at buyers’ desire to rise as high as possible.

A third impulse wave is expected to develop after the wedge, which often indicates a tangible trend.

Recommendation: Buy 1.3440, SL 1.3420, TP 1.3600.