The pound added 90 points yesterday. The 1.2637 target level has not been reached, but the potential has not been exhausted, as the Marlin Oscillator indicates a reversal only symbolically. The downward mood may heighten during the day, so we can only follow the development of the situation on lower charts. Leaving the 1.2436/76 range will complete the correction and the pound will continue to decline to the target levels of 1.2250 and 1.2073.

A price divergence with an oscillator is re-formed on the H4 chart. The oscillator's departure under the zero line will strengthen the reversal-downtrend.

So, either from the current levels, or from the 1.2637 area, we are waiting for the price to move to the nearest target range of 1.2436/76.