GBP/USD Forecast: bearish trend

gbp-l3The GBP/USD broke the bottom (dotted green) and has continued with its bearish momentum and trend.

The GBP/USD moved lower as part of the 5th wave (blue). Price seems to be building a small triangle correction which could be explained by a wave 4 (grey).

 

GBP/USD, 4 hour

GBP/USD, 1 hour

Origin: Admiral Markets

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