1 hour
The GBP/USD could have completed an ABC wave (purple) at the recent high or it could be building a wave 4-5 within wave A (purple).
This depends on whether price will bounce at the 61.8% Fibonacci level of wave 4 vs 3.
4 hour
The GBP/USD bullish breakout indeed took place as expected and started wave A (purple) of a larger wave 2 (red) correction.
Origin: Admiral Markets
