GBP/USD INTRADAY CHART
10th March:
The decline we have seen does not really suggest an impulsive decline - but it's not totally impossible. I suspect we shall see continued losses to complete a triple three but which should hold above the 38.2% expansion in Wave EFB at 1.4722. (Allow for the 41.4% at 1.4702.) When price is approaching this area - hopefully when EUR/USD reaches its 1.0294 target - we should be confirming 4-hour & hourly bullish divergences that would support a recycling back to 1.5551-00.
Below 1.4700 would extend losses more aggressively.