British Pound In Corrective 4th Wave

[B]Commentary:[/B] The decline from 2.0561 has reached the 161.8% extension of 2.0654-2.0424/2.0561 at 2.0181, which makes it likely that the decline from 2.0654 will prove to be impulsive (5 waves) rather than a corrective 3 waves.

The rally from the low is most likely a 4th wave correction. We are looking for this rally to end near the 38.2% of 2.0561-2.0181 at 2.0327. Immediate risk is to the upside towards this level. [B]Strategy:[/B] Move to flat, get bearish near 2.0327, target TBD