Daily chart for GBPUSD. I'm bearish for now. I see abc correction for Wave 4 completed, unless it extends and do another abc correction.
1. Wave 3 is shorter then Wave 1, so wave 5 need to be shorter then wave 3, a double bottom perhaps
2. RSI moving up supported by trendline, but is reaching a strong resistance zone
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Risk...
Price was largely ranged for the GBPUSD-1.09% for the better part of 2015. Then when price broke the ascending channel it was in, price took a huge drop shortly after retracing back up to the bottom of the channel.
Price then broke through the 1.4565 handle (Support) low of 2015 and exposed the 1.4225 low of 2010. Price is now just a few pips away from breaking...
