Looking at the chart, I wonder what to expect in the coming months. There are two options. I introduced one of them a few weeks ago when I was discussing the British pound, and this is a further sharp decline. Such behavior of investors will repeat the situation from 2018. So far, the chart looks very similar.
The second option I consider is a downward channel created that can be interpreted as a flag. As far as I know, the flag is a continuation of the main trend, and the downtrend in this case is only a stop before the further strengthening of the British pound. We will wait whatever time brings us. At the moment, we are playing what we see, i.e. a reflection from the bottom of the canal with the perspective of reaching the place shown in the image below.