Elevated Probability of a 200 Pip Sell Off

GBPUSD has caught my eye recently. Today's high is an interesting juncture where multiple wave counts suggest at least a 200 pip sell off. In light of the fundamental news out of UK and the recent Sterling strength, this is a tough one to swallow. No real oscillator divergence is showing up yet.

However, in sticking to the technicals on the chart, each of the 3 scenarios listed on the chart point to some type of fall. IF prices get to 1.5650, then we'll begin to eliminate and focus more on some counts versus others.

One big concern I have that is keeping me from entering in the trade right now is sentiment. The current SSI reading shows -1.3. Its not a huge sentiment reading, but this figure has been growing more negative meaning traders are piling into short trades. I typically like to align opposite the general trader. However, the reading is muted which could be indicative of a "B" wave.

The expanded flat view also lines up with my previous GBPJPY post which explains the difficulty of it passing through the false breakout zone.

For those Elliott Waver's, I would appreciate your views and what your possibilities are.