4 hour
The GBP/USD is building a bullish channel (purple lines) which is testing the previous top. A break below the channel could indicate a larger wave 4 (green) whereas a break above the resistance (red) could indicate uptrend continuation.
1 hour
The GBP/USD is losing a little bit of its bullish momentum. Price would need to break above resistance (red) to make a bullish break towards the Fib levels of wave 3 (blue) more likely.
4 hour
1 hour
Origin: Admiral Markets
