4 hour
The GBP/USD is showing a strong bullish breakout and rally. Price is now approaching a key resistance zone at 1.3750 area. The orange horizontal line is the bottom of wave 1 on a weekly chart and a break above it indicates an invalidation of a long-term bearish wave count.
1 hour
The GBP/USD momentum is probably in a wave 3 (grey) and a retracement is most likely a wave 4 (grey).
4 hour
1 hour
Origin: Admiral Markets
