4 hour
The GBP/USD broke below the previous top (dotted green) which indicates that the bullish wave pattern is invalidated. Price could either be building a larger WXY (blue) correction within wave 4 (green) or starting a new downtrend.
1 hour
The GBP/USD is challenging the support trend line and Fibonacci levels of wave W vs Y (blue).
4 hour
1 hour
Origin: Admiral Markets
