4 hour
The GBP/USD offers two main scenarios where either a bearish ABC (green) or a wave 123 (green) is taking place. Price invalidates that wave 4 (orange) correction if price breaks above the bottom of wave 1 (red line).
1 hour
The GBP/USD is building a triangle pattern (orange/blue lines). A bearish break could confirm the completion of wave 4 (orange) whereas a bullish break could invalidate it.
4 hour
1 hour
Origin: Admiral Markets
