From the daily time frame, there is a W-formation formed and the current price action has been broken the structure and started to form a potential head & shoulders. In this situation, we might foresee the price will be pushed to the downside to reach the support area in order to complete a W-formation rules.
From the COT perspectives, GBP is getting weaker since the net position is keep decreasing with closing long and adding short position in the latest data.
Do drop a comment at the comment section below! We can share our analysis to each other. Kindly take note that my analysis is based on COT perspectives and technical analysis . Also, we always reacting to the market instead of predicting the market.