GBPUSD- Is Above 1.3070-What Next?

Current Rate-1.3140

The fall from 1.3372 to 1.2864 will be retraced 61.8% in the zone 1.3180 to 1.3200 & there could be confluence zone of W=Y wave from bottom 1.2864 plus there is a channel if breaks downside -GU could start moving down in impulsive manner.

Regards,
Abhishek H.Singh, CMT