The pound, which had long resisted the pressure of the dollar, finally gave way, leading to a sharp price drop without much resistance. However, this development was quite expected. Based on the unfolding wave scenario, a downward correction in the form of a zigzag was anticipated, with the final wave [c] yet to complete.

It appears that this wave has now begun its development, with the third impulse wave already formed. In this case, after a slight corrective pullback, the decline is expected to continue, leading to a new local minimum.

It is recommended to open trades after a corrective pullback around the 1.2770 area.

Recommendations: Sell at 1.2770, SL at 1.2800, TP at 1.2660.