GBPUSD 4H Wave Analysis

• GBPUSD is currently not in an impulsive phase.
  
• Compared to AUDUSD or EURUSD, GBP still needs one more move to the downside
  
• I think Wave X just finished and we'll see the finishing wave z
  
• This wave could end around 38% Fib retracement or extend to 50% Retracement
  
• Even an overextension to 61% is possible, but highly unlikely
  
• As always be patient, watch the market
  
• Watch how it react around key areas and look for signifikante price Action signals!
  
• Only after clear Entry Signal, place a trade under proper risk management rules
  
  
  
  
• We should then see the next impulsive phase, which is wave 5 to new daily high.
  

This is for educational purpose only. This is no investment advice. Trade with demo account first before risking your own money.