is already in the blue box suggesting its recent pullback is complete or very close to being complete. A number of technicals suggest t still has one more push higher to go. The wave count is on the chart showing one more dip before finally topping. This wold agree with the position of the GBPAUD
which is still short of its turning area and these two assets could be expected to turn together, it is a difficult choice as to which offers the best chance of success. The GBP crosses are very volatile so a small psition size is suggested especially as we have huge event risk in the first week of August, a BoE rae decision and US/CAD unemployment data due thursday/friday.