Corrective Minor B (blue) is about to begin its Structure as pointed out by the present Main Divergence.
Minor A (blue) is about to complete its cycle, with Minute 5 (green) about to form its last local high, therefore waiting for the Secondary Divergence, which is most likely going to take place at the 24th Feb High, which makes it also a Double-Top.
Fibonacci Extensions from Minute iii & iv (green) are also pointing towards the 61.8% ratio for the end of Minute v (green).
GBP/USD will most likely retrace a 50-61.8% of its gains before it will continue with the newly created up-trend, therefore, the present trade is to be treated as short-term, after which, we will be looking to buy GBP/USD .
GBP/USD - Short:
Entry - 1.2530
SL - 1.2630
TP - 1.2250
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