On the daily there is the 3rd leg of Elliot wave forming with a 61.8 retracement. However, on the lower timeframe, we see there is a potential H&S pattern forming which is in confluence with the 61.8 fib level. A shift in momentum happened as it broke past the most recent HL point.
There is also measured moves happening with the next impulsive move matching with...
GU has been in a up trending market for a while and the 5th/3rd wave of Elliot is due. We see here a 61.8, RSI oversold, trend line touch and other factors that indicate a buy for this pair. But be weary as major news for GBP and USD is all week.
You can see that this pair has a change in trend, we have that first pullback at around the 0.5/61.8 region and matches with the trend based fib time zone. We then expect the next measure move to be about the same as previous price which matches with my TP of -0.27. You can also see some RSI divergence and H&S pattern giving us more indication of selling positions.