The macro view suggests a potential 5-wave move up from the July 24th low on GBPUSD. A decisive break below the 50% retracement at 0.7710 would significantly reduce the likelihood of this scenario. However, buyers have stepped in at this level, and if the intraday low holds, a fifth wave up to $5.00 is still possible. Previously, buyers were not interested in stepping in over the last year, indicating a significant correction.