During the previous trading day, the British pound attempted a breakout below 1.40927 but ended up closing a few pips below this level. As it is now, while the price remains below this level, we are sellers. The anticipated bearish price rally is the continuation of a corrective wave count and could see the price break below 1.40200 towards 1.39150 and may extend much lower. If you are looking at this right now, keep looking for long term sell positions while the price is below 1.40927 and may push the price much lower.
As long as the price is below 1.40927, we are sellers towards 1.37080.