Scenario #1 for a long term sell currently playing out. We are seeing lower highs and rejection of the zone price is currently in, which could be signaling back towards the downside. Important news updates coming for the GBP at 7am, looking to decide my position after the news traders settle down. If price breaks this structure we will be looking towards scenario #2 with possible retest on the other side of this structure and a significant bounce to the upside.