Two Bullish Wolfe Wave patterns for GBP/USD. It is crucial for price to remain above at least the 1.2900 level to ensure long term bullish pressure should price go down that deep. If price remains above the 1.3458 level then I believe we will see a bullish trend continuation in the shorter term.
It is difficult to say when price will resume a bullish trend continuation, but with the BoE projecting a rate hike this August we might well see price starting to climb prior to that in the weeks to come, thus, be careful with placing big short positions.