GBP has been a bloodbath after the Brexit referendum. A 5 legged bullish impulsive wave was followed by a strong ABC correction in the course of the negotiations with an increasing dynamic into the postponement of the deal by the british prime minister Theresa May. As we are moving into the final weeks of the decision, we might see some more downside in this ABC correction.
If the count is correct, we might be witnesses to the beginning of a fifth wave down at the beginning of the upcoming week with its last thrust falling right into the decission of british parliament on the deal with the European Union. The vote could coincide with the beginning of a new bullish uptrend as of the middle of January, if the deal is passed. If not -- we would have to re-evaluate.