• Pound GBP seems weaker with cross pairs
• GBPUSD unfolds wave C)
• GBPJPY may find support at 153-149 zone

With strong USD across the board and another 11k covid cases in the UK, the pound is continue to weaken.

As per Elliott Wave analysis Cable- GBPUSD is coming lower, below the 4h trendline support and even slightly beneath 1.4000 level which still can be a corrective move from the May high, but wave C) of a triangle. The fact is that the current drop is much deeper than we thought in the first place, so whole corrective price action since February can still be underway. If that's the case, then wave C) will stabilize at 1.38- 1.39 level.

GBPUSD 4h Elliott Wave Analysis Chart

GBPJPY is also trading sharply lower as expected, after we noticed wave "v" of 5 of (3), it seems like GBPJPY is slowing down now within a higher degree corrective phase; however, for now we expect a reversal at least in three waves A/1-B/2-C/3, because support can be anywhere between 153-149 zone.

GBPJPY 4h Elliott Wave Analysis chart