The GBP/USD made a bullish bounce yesterday as the oscillator turns green for 3 bars in a row. This could be part of a wave 4 (magenta), although it is important to see whether price has enough momentum to break above the resistance (red) for the wave 5 (magenta).
Price could be starting impulsive waves (1-2) to the upside, which would be confirmed once price breaks above resistance (orange and red). The invalidation level is the bottom (green) of wave 4 (magenta).
Please note that the update is posted with permission from Admiral Markets
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