1 hour
The GBP/USD could be expanding the retracement within wave 2 (green).
A break above the resistance trend line (red) could see a continuation of wave 3 (grey) whereas a break below the 100% Fibonacci level of wave 2 vs 1 invalidates the bullish wave pattern.
4 hour
The GBP/USD is making a bearish pullback that is testing the support trend line (blue) within a wave 5 (purple) of wave 3 (blue).
Origin: Admiral Markets
