4 hour
The GBP/USD uptrend is building a bearish correction. A break above the key resistance (red) trend line could spark the continuation of wave 5 (blue) within wave C (purple).
1 hour
The GBP/USD could still be in a potential wave 4 (gold) correction although price did retrace to a deeper 61.8% Fib than usual. A break above the resistances (red) trend line could spark a continuation within wave 5 (orange) but a break below the Fib makes this wave pattern unlikely.
4 hour
1 hour
Origin: Admiral Markets
