GBP/USD Forecast. Wave Analysis

gbp-l34 hour

The GBP/USD also bounced at the support zone and confluence of multiple trend lines. It then rallied and broke above the resistance trend line (dotted red) of the larger bull flag chart pattern (dotted red). The bullish breakout could see price move towards the Fibonacci targets of wave 5.

1 hour

The GBP/USD made a bullish break above the resistance trend line (dotted red) and is now showing strong momentum. Any corrective pattern could be a pause for more upside.

4 hour

1 hour

Origin: Admiral Markets

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