A sharp rally at the end of the past week changes the outlook and the wave structure of the pair. We have seen quite strong and sharp recovery over the past few days, which has a personality of an impulsive advance.

As such, we came out with an idea that pair is actually trading in wave C leg of a larger complex corrective wave 2) "expanded flat pattern", especially after a recent break through the falling trend-line. Based on this count, pound should rise further in this week, above 1.5670 level.