The pound is clearly in an impulsive wave 3 and although I was mainly focused on selling the pound against the AUD and NZD, I will definitely sell GBPUSD
after a significant reversal. I believe 1.39 is the next target short but ideally we see a clear reversal from 1.41 zone. I want to see a wave 4 correction towards 1.45-1.46 and then look for a sell for wave 5.
Short term we might see a bullish
break out of the bearish channel
, however this will be against a strong trend so I want to see some kind of consolidation after the break before I consider a buy trade.
I will update this pair more frequently since I believe it will present several high probability trades in the near future.