Weak, GBP USD has been going through a strong downtrend since the day of Brexit. after last Thursday Flash Dropped of 600 pips, a small correction -rebound occurred last Friday, but the rebound was not a rebound of recovery, sign of weakness still present in the chart, not unless buying power can push price back above the 1.420 level, above from the pressure of the Strong Resist level in Red.
Expect price will go through a consolidation period until market take in the new range, before another move towards the down side supports and zones. so watch out at every touch of these levels, candle above line - up
below line -down. simple.
To confirm a nicer rebound, Price must be able to climb above the 50 days MA, not until then, down is my exception in this trade at the moment.
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If you are interest more of my S/R Wave Zones forecast charts