GBPUSD: Dangerously close to activating the next major P&F chart target of 1.08! Downside risk to the next closest target 1.18!

GBPUSD: Dangerously close to activating the next major P&F chart target of 1.08! Recently GBPUSD hit the downside point and figure chart targets of 1.23 and 1.21! Beware any P&F chart reversal to the upside to signal the end of the current downtrend! Downside risk to the next closest target 1.18! GBP down more than 14% since the P&F sell signal and is still locked in a P&F downtrend.