GBPUSD made a sharp and strong decline in the last two weeks, with another leg down yesterday which can be wave 3) headed to 1.2750 near-term projection level. In fact current declien can become even more extended and sharper if we consider that wave 3) is normally the strongest leg in a five wave sequence. As such, we remain bearish on pound as long as 1.3030 holds.
GBPUSD, 4H
