During the Asian session, the GBP/USD pair is undergoing a corrective pullback around 1.3428, with the British pound failing to generate “bullish” momentum amid sustained demand for the US dollar.

During the morning session, the GBP/USD pair develops a stable upward trend in the ultra-short term, holding near the highs of May 26 at 1.3461.

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 1.3360.

Last week, the dynamics of the GBP/USD pair were mixed. Initially, the price corrected to around 1.3366 (Murrey [3/8]). However, they later recovered lost positions and returned to 1.3488 (Murrey [5/8]), reinforced by the middle line of Bollinger bands.