GBP USD: Sterling continues to build base at 1.20 prior to rally

GBP USD Sterling is building a base at 1.20 prior to rallying further

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PS. Forgot to mention the 4 waves down followed by the 5th wave being a double bottom - another one!

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GBPUSD update - News of the election and certain May win has pushed Sterling right up to the first line of critical resistance at 1.27757 where we should take profits.
Eventually - maybe even tomorrow - this line will get broken but until it does I'm locking in profits and getting ready to go long again at 1.2810 for move up to 1.347