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UPDATE #1: ANALYSIS: GBPUSD; Has Wave 3 of 3 Begun? Or Not Yet?

FX:GBPUSD   British Pound/U.S. Dollar
Updating my previous post on this pair, (see Related Ideas: "ANALYSIS: GBPUSD             ; Has A Wave 3 of 3 Begun? Or Not Yet?"), the two Gartleys that I posted were both invalidated by PA that exceeded both patterns C points. In it's place, it created 2 POTENTIAL bullish cypher patterns instead. Notice also that I have updated my wave count to include the recent new price high from the "spike" failed attempt to break the BAMM line but failed to close above it.

From the wave count, it is plain to see that the current move down is a corrective and when finished will resume an up move that I believe will take prices up and over the BAMM line breaking that strong resistance structure. Also keep in mind that since by my wave count this is a corrective wave (wave 2) following on the heels of a 5 wave impulse wave up (wave 1), the next wave after the current corrective wave is done will be a wave 3 motive wave.
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