GBPUSD dropped like a hot potato the last two weeks. Panic is in the markets and we have seen a sell off in equities and commodities. (and commodity currencies)
From a technical and Elliott wave perspective we have completed the expanded triangle with the finish of the ABCDE correction. The last drop was wave Y, the last push of Wave X, which started roughly 2 years ago.
We should now see some positioning of the professionals for the next move to the upside.
This is no investment advice. Just for educational purpose.