The GBP/USD made a sideways correction within the larger bearish momentum. The bearish pressure is strong and price is breaking below the zone for a continuation of the downtrend.Price seems to be finalizing a bearish wave 5 (purple) within wave 1 (pink). Once the wave 5 is completed, price could eventually make a bullish ABC correction within wave 2 (pink)
The GBP/USD completed an ABC (green) correction within wave 4 (purple). Price is now breaking below support trend line (dotted blue) for a bearish continuation within wave 5 (purple).
