4 hour
The GBP/USD made another bullish breakout above a resistance trend line (orange) yesterday. Price could be in a wave 1-2 (green) unless price manages to show a continued bullish breakout and reach the 161% Fibonacci level of wave 3 (brown).
1 hour
The GBP/USD is in a bullish trend channel and could be building a wave 1 (green) within wave 3 (brown). Currently price seems to be building a slight rising wedge which could cause a bearish retracement.
4 hour
1 hour
Origin: Admiral Markets
