The GBP/USD is continuing with the uptrend as part of a wave 5 (orange) within wave A (green). A bearish reaction could take place at the top of the uptrend channel.
The GBP/USD bounced at the 38.2% Fibonacci retracement level of wave 4 vs 3 (green). The current push higher could complete wave A (green) or a wave 3 (dark red), which would indicate one more pullback and continuation towards the Fibonacci targets.
