GBP/USD Forecast. Technical Analysis

gbp_cfd1 hour

The GBP/USD has support and resistance trend lines which could offer breaking spots for the Cable.

A bullish breakout could lead to a wave C (purple) whereas a bearish break could see the downtrend continue.

4 hour

The GBP/USD seems to have completed 5 bearish waves within wave 1 (red). The Cable could be building a potential bullish retracement as part of a wave 2 (red).

Origin: Admiral Markets

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