? GBP/USD Bullish Break, Pullback, and Continuation via Wave 4-5 ?

2 min read

Hi traders,

The GBP/USD is showing a higher high and higher low after a bullish break above the resistance trend line (dotted orange).

GBP/USD

4 hour


The GBP/USD is probably building a larger bullish correction within wave 2 (pink) or alternatively within a wave 4.

1 hour


The GBP/USD is probably building a bullish ABC zigzag (blue) within a larger WXY correction (purple). Price could now be building a bearish correction within wave 4 (green) as long as price stays above the 61.8% Fib of wave 4 vs 3. A continuation could see an extension of the bullish wave C (blue).

Good trading,
Chris Svorcik
Elite CurrenSea

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