After rallying back sharply to 1.5380,  the Pound has come off in what looks like a five-wave pattern. The final leg of these five waves is likley to be completed soon, and so we should get ready for a recovery back towards the previous fourth wave around 1.5110. So trade accordingly.short term outlook for gbpusd The prior low at 1.4780 offers key support, while even 1.4835/50 can hold up.