There is a short opportunity in the GBPUSD. 5 waves down from 1.5356 indicates that the larger degree trend is down against that level and that the minimum target is below 1.5058. The zone that is likely to produce a top is 1.5229 (61.8% of 1.5356-1.5058) - 1.5269 (former daily high). A soft target is 1.4900, which is a level discussed in today's Daily Technical Strategy. While the minimum target is below 1.5058 (if an A-B-C), it is possible that a more important top is in place (if an impulse). Optimal strategy requries 2 lots with profit taken on 1 lot at 1.4900 and the stop moved to breakeven on the 2nd lot following a drop below 1.5058.
