4 hour
The GBP/USD is also building a bearish retracement within a potential wave 4 (green). A break below the 50% Fib pf wave 4 vs 3 makes a wave 4 unlikely. The continuation of the uptrend seems likely if price is able to break above the resistance trend line (red).
1 hour
The GBP/USD is challenging the 23.6% Fib level of wave 4 (green). A break below the support trend lines could see price challenge a deeper Fibonacci level such as the 38.2%. A break above the resistance trend lines could indicate an uptrend continuation.
4 hour
1 hour
Origin: Admiral Markets
