GBP/USD: weekly wave analysis
Daily. The situation at GBP/USD chart looks complex. The problem is that at the last section the shape of the waves doesn’t look like the initial waves of the downtrend. As a result, an alternative upward scenario comes in play.
H4. The price has the last chance to turn down. If the wave [z] is completed in the coming days in the place shown at the chart, the downtrend will resume. Be careful at the current complicated area, as the shape of the wave allows several alternative scenarios.