Longer term (12 months view) GBPUSD is headed up. If AB=CD measured move from May 2010 hold then it could be we could achieve 1.78. In the intermediate term the strong up trend will gain momentum to the upside with relatively minor pull back (only normal retracements in generally (up trending market). There are many computer generated harmonic traders and they should take note, lest be caught on the wrong side. For additional perspective, check out my VIX Index, & Dollar Index Charts. Happy trading