The GBP/USD turned around at resistance and continued with the downtrend. Price remains in a downtrend as long as price stays below the trend lines (red).
The GBP/USD turned at the Fibonacci levels of wave 4 (orange). Price could now be building an extension within wave 5 (orange) unless price breaks above the 100% level of wave 2 vs 1 (grey).
4 hour
1 hour
Origin: Admiral Markets