The GBP/USD seems to have completed a potential wave 4 (green) retracement but a confirmation is only possible after a bullish breakout. A bearish bounce, however, could see price move back towards the bottom of the triangle chart pattern.
The GBP/USD could have completed a bearish ABC (dark red) zigzag pattern within the wave 2 (orange) correction yesterday. If price is starting a wave 3 (orange) impulse, then price is expected to show a bullish breakout soon. A break below the support trend line (blue) could indicate a deeper wave 2 or a chance of wave patterns.
