GBP/USD: wave analysis
The pair may fall.
On the daily chart, the first wave of the higher level (1) developed, within which the wave 5 of (1) formed. Now, the fifth wave of the lower level v of 5 of (1) has developed as a wedge, and a downward correction is starting to develop as the wave (2). If the assumption is correct, the pair will fall to the levels of 1.3207–1.2861. In this scenario, critical stop loss level is 1.3756.
