The market has broken the trendline with a solid bearish candle.
The price action has made the third divergent move with dueling lines. Therefore, I believe that the price will initiate a down move from here.
The price action has completed a five wave down move in a descending channel with a double bottom.
I believe that British pound will continue its down trend after 38% retracement, because prices are currently oversold in one hour chart.
The price action has completed an abc correction after a five wave up move. I believe that prices will continue their up move from here.
The price action has completed five wave impulse with a divergent fifth wave. I would wait for at least 38% retracement before opening a new long position.
The price has broken out of the corrective wedge.
We will see the C wave of correction to the price of $260.