On the 30-minute chart of GBPUSD, there is something, which looks much like a triangle. Triangles are corrective patterns, that only occur before the final swing of the larger trend. In this case, we think it is wave B of an A-B-C zig-zag. Once the triangle is finished, we will be expecting GBPUSD to reach 1.7200 in wave C. After that, prices should start declining.
Considering our big picture scenario, GBPUSD should not go above 1.7225, because this is the point, where the ending diagonal on the daily chart would be invalidated, since its third wave would become the shortest among waves 1, 3 and 5.
