4 hour
The GBP/USD is challenging the support (green) line of the bullish channel (red/green).
A bearish break could see a larger retracement or reversal whereas a bullish bounce could see price challenge resistance again.
1 hour
The GBP/USD needs to break above the resistance levels (red/orange) before a continuation is likely. A break below support (blue) could start a bearish reversal and continuation of 5 waves (blue).
Origin: Admiral Markets
