British Pound Bearish Below 2.0269

We wrote yesterday that “the best count has the decline from 2.0461 as large wave C in an A-B-C from 2.0654 (same as EURUSD).” The bearish targets are 1.9989 and 1.9697. The decline from 2.0397 is likely the third wave within larger wave C. Look for the decline to accelerate in the next day. The bearish bias is favored as long as price is below 2.0269.

Strategy: Remain bearish, against 2.0269, targets 2.0000 and 1.9700