The price has reached the previously planned target in the form of local minimum. At this level, a reaction from the buyers may follow. It will lead to a sharp rebound. Or it may happen that the price will not even notice this level. But it is recommended to insure earlier opened deals on sale in some way: to transfer the protective stop loss as close as possible to the market value, or to close a part of the open deal volume.

The current price decline is presumably due to the development of wave 3 of the downward impulse. This impulse itself is probably part of a zigzag, and the zigzag is part of a compound correction in the form of a double zigzag. Thus, in general, a fairly significant decline in the British currency against the dollar is expected.

Recommendations: Sell 1.2600, SL1.2625, TP 1.2500.