4 hour
The GBP/USD is trending higher in a bullish channel which is indicated by the support (green) and resistance (red) trend lines.
A bullish break could see price move towards the Fibonacci targets of wave 5 (purple) whereas a bearish break could start a reversal.
1 hour
The GBP/USD needs to break above the resistance levels (red/orange) before a continuation is likely. A break below support (green) could start a bearish reversal.
Origin: Admiral Markets
