It does remain our contention though that the GBPUSD is headed much higher (above 1.9957) over the next month or so; but probably not before a corrective drop in a second wave that reaches at least 1.9560 (38.2% of 1.9361-1.9687). This is a former congestion area as well. As the correction unfolds, we will be better able to determine when exactly we should enter long.
