GBP weak

GBP is weak short term. After a good short rally, it has formed a bearish ascending wedge that has been already violated. Now the 4h Stoch RSI is bearish and the hourly as well. The close of today's candle is critical as GBP bulls are now fighting with the resistance posed by the 50MA, which has already acted as a resistance in the previous bounce. It is important to note that we are now in the 4th corrective wave after the last bull market (wave 3). I expect wave B to reach 155.1 to collapse back down to the final target at 146.8. In the short term, I expect a retrace to the 150.6 - 150.3 before pushing through the diagonal channel resistance and the 50MA to reach 155.
It is going to be fun.
Enjoy