The pound continued to rise, updating previously established highs along the way. This movement appears more like inertia. If buyers do not receive additional momentum soon, their triumphant march will end, and the price will reverse.

However, the expected decline is likely to be corrective, so the price probably won’t drop significantly. These fluctuations are likely part of the development of wave 3 of [iii] of the upward impulse. The possible price movement trajectory is schematically outlined on the chart above.

Opening any positions at this moment is not recommended, as a corrective decline is expected, which is likely to be minor. Therefore, it’s too late to buy, and the potential for selling is insignificant.

Recommendations: Flat.