The probability of growth remains.

The daily chart is indicating the development of the upward third wave of a higher-degree wave (3), alongside the formation of a lower-degree third wave within wave 3 of (3). On the four-hour timeframe, wave iii of 3 is currently developing, within which the local correction has ended as wave (ii) of iii and wave (iii) of iii is now unfolding. If this scenario proves correct, the GBP/USD pair’s upward trend is expected to continue toward the 1.4200–1.4600 zone with a critical stop loss at 1.3290.

Following last week’s update of the April 8 low, today during the morning session, the GBP/USD pair is correcting, testing the 1.3320 level in anticipation of new movement drivers.

This week, the GBP/USD pair was steadily declining, having renewed six-week lows around 1.3327 under pressure resulting from intensified political tension within the UK.

Amid the strengthening of the American currency, the GBP/USD pair is correcting, trading at the level of 1.3529.

During today’s trading session, GBP/USD reached 1.3520, remaining under pressure from weak retail sales data from the British Retail Consortium (BRC), which tracks sales performance in stores open for at least one year and is compiled using regularly submitted retailer data.