Pound is under strong pressure. I am expecting bottom around 1.25 or 1.22. If price touches these levels then i will look for longer term wave to the upside which is due on GBPUSD
. Remember this pair was being traded at 1.60 at the end of the last year. We may see this level again in future. Currently price is under corrective structure which may form trend continuation pattern and that pattern may breakdown.