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GBP/USD: weekly wave analysis

Weekly. Long-term bearish zigzag A-B-C is being formed. Let's review the bearish impulse C in the details.

Daily. Inside of the wave C we have already completed waves [1], [2] and [3]. After that a bullish correction [4] will begin. It may take form of a complex horizontal construction. Let's see the chart of the wave [3] in the details. 

Н4. We review the impulse (5) of [3]. On the new week correction 4 will be complete. After that the pair will extend the decline in a wave 5. Bears will likely reach the prior local low, formed by the wave 3.

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