This week, the GBP/USD pair returned to growth after five weeks of negative dynamics and yesterday tested the level 1.3305 (Murrey [2/8]) to consolidate above, which it has not yet been able to.

The price is in a correction; the probability of a decline remains.

On the daily chart, an ascending third wave of a higher level (3) is developing, within which the first wave 1 of (3) has formed, and a correction as the second wave 2 of (3) continues. Currently, a downward third wave c of 2 and a third wave of a lower level (iii) of c are forming. If the assumption is correct, the GBP/USD pair will decline to the area of 1.3150–1.2950. The critical stop loss level for this scenario is 1.3395.