GBP/USD was on the rise yesterday, but it slowed down now at interesting levels here around 1.3070, and if we consider UK political worries then I really wouldn't be surprised if bulls slow down. In fact, there is a chance of a sharp A-B-C recovery from Feb 14 low, but of course, we would need a bearish reversal back below 1.2944 level before this count can be confirmed. If from any reason this would really happen, then I will watch gbp for possible shorts, especially if EUR/GBP would also turn up from current levels and above 0.8762.

GBP/USD, 1h

EUR/GBP, 1h