The GBP/USD has broken above the long-term resistance trend line (dotted red), which makes a bullish continuation likely within wave 5 (blue). Price will need to stay above the support trend lines (blue) otherwise the uptrend is in danger.
The GBP/USD is showing strong bullish momentum, which is typical for a wave 3 (orange). As long as the bearish retracement stays above the previous tops (green lines), the current wave pattern is probably a wave 4 (orange) and a bullish continuation is likely.
Origin: Admiral Markets