4 hour
The GBP/USD needs to break below the support (blue) trend line before a larger bearish breakout is triggered. A break above resistance (red) could indicate that a larger wave C (orange) can take place.
1 hour
The GBP/USD could be in a wave 1-2 (brown) if price stays above the 100% Fibonacci level. However, price is building a bear flag pattern which could indicate a bearish continuation.
4 hour
1 hour
Origin: Admiral Markets
