GBPUSD looks like it has finished the 3rd wave and has began correcting. I would expect price to climb to the 61.8 to 78.6 % fib retracement level finishing the B wave. I then would anticipate price to fall down the the 161.8% level of wave A. This would complete the first of possibly 3 corrections. If entering, I would wait for a larger/engulfing bullish candle/bar close at the end of wave B, take profit just before the -61.8 (conservative at -38.20%), and stops just past the 78.60%, unless price goes to that level then stops would be raised to the start of wave A. From here, I would be wary of upcoming interest rate changes for GBP pairs.
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GBPUSD has now come very close to the 78.6% retracement and from here downside is likely.