GBP/USD: Elliott waves (May 19)
By Roman Petuchov
Weekly. GBP/USD is forming a wide wave plane B. In the past 5 months we have been seeing growth within the impulse wave [c].
Chart. Weekly GBP/USD
Daily. Wave (III) is fully formed. At the moment, we see the construction of a correctional wave (IV), which is taking form of a plane. This means that at the last section there will be an impulse decline.
Chart. Daily GBP/USD
H4. Wave  is fully equipped with waves of the junior level, which means that soon we’ll see growth in the correctional wave . When the second wave is complete, the decline will continue. The approximate trajectory of the upcoming move is shown at the chart.
Chart. H4 GBP/USD