The GBP/USD is clearly bearish. At this point the price stands at the W H5 so we might see a rally which sellers might use for selling at a better price.
There are 2 POC zones where we could see a new wave of selling. The first POC 1.2760-90 is additionally supported by the order block (red line). In the case of a deeper retracement up watch for 1.2820-60. Reversal patterns in the zone could also show sellers and we should see a further drop towards 1.2780, 1.2685 and 1.2650. Below 1.2650, 1.2579 is the target. Selling the rallies continues.
Many green pips,
Nenad Kerkez aka Tarantula FX