You can frame the current situation in this pair in multiple ways. Here's just one example. You can see the price probably finding some resistance at the previous lower median line parallel. This pair is certainly weaker than it used to be, but not giving up and should not be considered as a short candidate too easily. The lows to the left are a nice spot to protect SL, so the buyers are still there. Although the sterling is weakening, it is still a strong currency, by any measure.