GBP/USD fell sharply lower five weeks back after vote counts for EU membership showed that UK wants to leave the Euro zone. The pair fell to a new low which was technically expected since we counted a bounce from 1.3850 as a corrective fourth wave, so the final wave V was in store. As we see now price made a nice little impulse from the lows, which could be the beginning of a new bullish sequence, meaning that higher degree decline is completed.
If price breaks beneath the wave C) low, then wave V could still be unfolding.
GBP/USD, Daily
