GBP/USD Forecast. Wave Analysis

forex_news_gbp_74 hour

The GBP/USD seems to be respecting the Fibonacci levels of wave 4 vs 3 (green) and a bullish breakout above the previous tops (dotted orange) indicate the start of wave 5 (green). A break above the next resistance (red) trend line could confirm a bullish breakout.

1 hour

The GBP/USD broke above resistance (dotted orange) and completed wave C (grey). The next bullish breakout could confirm a wave 3 (blue) pattern.

4 hour

1 hour

Origin: Admiral Markets

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