Development of upswing continued. The structure’s high 1.3297 is located very close. In case of break above, an upward reversal of the trend will be performed, that will create premises for more intensive recovery of the pound in direction of the 1.3500 area.
Upswing is completed, that, formally, allows the new downswing to start within long-term downward structure. But, since there was no direct signal of stopping or reversal of the upward movement, the opportunity to renew the current swing highs in direction of the areas 1.31 and 1.32 exists.