GBP/USD Forecast. Technical Analysis

gbp24 hour

The GBP/USD uptrend completed the bearish correction and broke above the key resistance (red) trend line. This sparked the continuation of wave 5 (blue) within wave C (purple). The GBP will have an interest rate decision of its own today.

1 hour

The GBP/USD broke above the resistance trend line (dotted red), which sparked a continuation within wave 5 (orange). Price could still extend the wave 3 (green) to a higher Fib level. A retracement could see support at the Fib levels of wave 4 (green).

4 hour

1 hour

Origin: Admiral Markets

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