4 hour
The GBP/USD made a bullish breakout above the previous tops (dotted orange) and resistance trend line (dotted red) which could 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 bullish break is slow and corrective, which could indicate an ABC pattern rather than a 123. If price manages to stay above support (green/blue), then a 123 is more likely. Otherwise, if the support levels should break, then an ABC is more likely.
4 hour
1 hour
Origin: Admiral Markets
