Let us first examine where the GBP basket is on the X and Y
Now let us see the synthetic SSI data
GBP has the highest value at 0.35
A weak EUR FX space will not help GBP either.
Look at this GBPUSD daily chart:
Descending pitchfork (main)
Below Monthy Pivot and Support 1
Below median pitchfork line
Below Schiff line (lower support)
And now some scenarios to consider:
EURGBP should be travelling north to create XABCD complete. Where D must be higher than B. See my video regarding this. We should target 0.9187 (MR3) where the retail have to be getting stopped out up there.