4 hour
The GBP/USD remains stuck in between support (blue) and resistance (red) and a breakout is needed to indicate the new direction. A bullish breakout above resistance (red) could spark the continuation of wave 5 (blue) within wave C (purple) whereas a bearish break could indicate a change in wave patterns and a bearish continuation.
1 hour
The GBP/USD bounced at the 50% Fibonacci support level of potential wave 4 (grey). The trend lines are key factors for the next breakout.
1 hour
Origin: Admiral Markets
