GBP/USD has been trading recently with a new leg up from last week to 1.2680 which we called it as wave 5) within a higher degree impulse, so looks like it was a final leg of an impulsive price action. That said, a trend may change now for a minimum three wave decline back to area of a former wave four. Ideally that could be jut another pullback within new bullish trend if we consider a potential low in place on a daily chart.
GBPUSD, 4H
GBPUSD, Daily
