In spite of the negative market sentiment toward sterling pound, Elliott waves counts are still indicating that the pair is nearing the end of big downside cycle; then the sun will rise again. The immediate resistance lies at 1.0930, above here the market will proceed higher to 1.1250 and 1.1520. But it is worth mentioning that we don't rule out one more downward move to 1.00 and 0.9885 before the market initiate a big upward impulse trend.