GBP/USD Forecast. Wave Analysis

gbp24 hour

The GBP/USD failed to break above the resistance trend line (red) of the consolidation pattern. Price is now testing the larger support trend lines and a bearish break could see price make a bearish reversal.

1 hour

The GBP/USD is testing the support trend line (green) of the corrective pattern. A bearish break could see price fall towards the Fibonacci targets of wave C vs A.

4 hour

1 hour

Origin: Admiral Markets

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