GBP/USD Forecast. Wave Analysis

4 hour

The GBP/USD is challenging the support line of the bullish channel. A break below the channel could see price test the Fibonacci support levels of wave 4 (green).

1 hour

The GBP/USD is building a potential wave ABC (blue) correction which could take price towards the Fib levels. A bullish break above the round level of 1.40 could indicate a continuation of the uptrend.