Commentary: Bigger picture, the count is not too clear but one scenario that we have focused on is that the GBPUSD is declining in a big correction from 2.0654. Under this scenario, 2.0438 should remain intact and price would be on its way to below 1.9651.
The potential bearish count from 2.0438 (shown on the chart today) favors a bearish stance. The 61.8% of 2.0438-2.0285 at 2.0380 is potential resistance.
Strategy: Bearish near 2.0380, against 2.0438, target below 1.9651