Last week I hoped we will see a small rally twd 1.5900/20 before GBP started to acclerate lower. Such a rally did not occur and the British pound moved below 1.5680 level. Thus, there is a good chance that we are already in the acceleration phase of wave . Based on the weekly chart (not shown here), wave  should move prices below 1.35 level. So, I am very bearish here.