British Pound Decline is Choppy

The doji made on 4/18 along with divergent RSI on the daily gives scope to a reversal. Still, the decline from the top is corrective, which leaves GBPUSD open to another high.

The deeper correction that we mentioned may be taking place may be complete at 1.9955 as there are 3 waves down from the top. A break above 2.0068 opens up the door to more bullish prospects. Additional support is at the 38.2% of 1.9589-2.0131 at 1.9924.