GBPUSD has been in downtrend since 1.58 in August , 2015. Red wave II' finished at 1.5811 and now the price have been in blue wave v of gray wave 3 of  red wave iii of Blue wave 3 of Red wave III'. the ideal target for this blue wave v is near 1.49 area where we expect correction in gray wave 4 towards 1.5250-1.53 area before downtrend resume towards 1.45 area en route to 1.40 and even lower. Traders can short from current level or better targeting 1.4250.

muhiuddin