1 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
