The British pound is currently rallying within a range, not going below 1.40884 or above 1.4236. As long as the price remains within this range, we are only interested in trading reversals. We are waiting for a rebound from the upper level 1.4236 to pick a sell and a bounce from the lower level 1.40884 to pick a buy. And in case the price breaks below the lower level 1.40884, then this will be a good place to consider a possible long term sell position. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below 1.40315.