As we can see from this chart that there is an area of confluence and support from 86.33-86.13, at the moment we see Wave 2 unfolding as an Expanded Flat correction and the most common relationship between Wave C and Wave A in an Expanded Flat correction is 1.618 which puts the end of Wave C at 86.25. If Wave 2 is an Expanded Flat then we may see a Wave 3 extension which may push EURGBP up into the 0.9000 area. If this scenario plays out then we will likely see weakness in most GBP pairs.
