4 hour
The GBP/USD seems to have completed 5 bearish waves within wave 1 (red). A bullish retracement could be part of a wave 2 (red).
1 hour
The GBP/USD has support and resistance trend lines which could offer breaking spots for the Cable. A bullish breakout could a wave C (purple) develop whereas a bearish break could see the downtrend continue.
4 hour
1 hour
Origin: Admiral Markets