British Pound Technical Outlook

A triangle appears to be in its latter stages in the GBPUSD. Triangles consist of 5 waves (a-b-c-d-e) and the rally from 1.5980 would be wave d of the triangle. Favor the downside to at least 1.6260 near term in order to complete the triangle. Such a drop would correlate with a short term decline in the EURUSD.