GBP in Correction

At the moment it looks like the Pound is correcting the long move of Last night. The long is (i) of the current C wave the short movment should be (ii). I expect the retrace to end somewhere around 1.6280 before resuming the long move that will become (iii). Please not that a break of 1.6229 before making a new recovery highs is the point of ruin for this count. A break of 1.6229 would signal that (2) was complete and (3) had begun. I will try and identify a good minimum end target for wave (iii) once (ii) is compelete.