4 hour
The GBP/USD made a higher high but price quickly fell back during the FOMC statement. The bullish move could have completed the wave 3 (blue) and started the wave 4 (blue) correction.
1 hour
The GBP/USD completed a ending diagonal within the last 5th wave (grey) before price fell quickly back to the support level (green). Considering the strong bearish momentum, price could continue lower via an ABC (purple) correction towards the wave 4 (blue) Fibonacci levels.
4 hour
1 hour
