4 hour
The GBP/USD broke below the support trend line (dotted green) and completed the 3rd wave (purple).
Price could now be in a potential wave 4 (purple) retracement which could bounce at the Fibonacci levels of wave 4 vs 3.
1 hour
The GBP/USD did indeed complete multiple waves 5 at around 1.33. The retracement has broken below multiple support levels (dotted green) and is now testing the Fibonacci levels.
Origin: Admiral Markets
