1 hour
The GBP/USD could be extending the 5th waves with 5 more waves (green), which could see a bearish breakout below the support trend line (blue).
The other scenario is that price will bounce and complete wave 1 and start wave 2 (red). In this case price will probably break above the resistance trend line (orange).
4 hour
The GBP/USD continued with its downtrend and is building 5 waves (grey) within wave 1 (red).
Origin: Admiral Markets
