GBPUSD 1Hr
The GBPUSD looks to be fulfilling an ABC corrective pattern in which the length of wave C should be equal to the length of wave A. Wave C should end at around 1.5522 which is right below the 50 percent retracement level and where the long term uptrend line converges with the lower channel line, as a result 1.5522 is a key support level.
GBPUSD 1Hr
The 1 hour chart shows that the market is currently in wave 4 with wave 5 expected to end around 1.5522.
Key levels to watch 1.5645 key resistance level and 1.5563
