4 hour
The GBP/USD retraced back to the 50% Fibonacci support level of wave 4 vs 3 (orange). A bullish bounce could confirm the wave 4-5 (orange).
1 hour
The GBP/USD seems to have completed an C (grey) bearish zigzag within wave 4 (orange).
A break below the 61.8% makes a wave 4 structure less likely.
4 hour
1 hour
Origin: Admiral Markets
