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On the GBP/USD pair, we continue to stay bullish until a reversal is evident, although today I do not rule out the possibility of a decline. It is not yet clear whether the decline will be a correction in the second wave, followed by a continuation of the uptrend into the third wave in (1) in (C), or if a reversal to the south will mark the start of the third larger wave in (C) in (B), which is also possible since the index and the euro have not completed their corrections. Therefore, here on GBP/USD, only the first wave in (C) in (B) may have ended. I will refrain from rushing to conclusions, and only if the pair manages to set a new low in the current wave (B), will I consider a third wave downwards in (C) in (B). If the low is not updated, there could well be an uptrend either in (2) in (C) in (B) or in the third wave in (1) in (C) for a reversal into a significant rise.