Hello.
GBPUSD Time Wave analysis update.
GBPUSD has broken all the support lines of the uptrend and came down.
Therefore, there is no support line below, and monthly and weekly correction trend lines of a downtrend are drawn above.
GBPUSD has been making support from the bottom for several days, drawing a daily correction trend line of the uptrend.
A slight uptrend is expected, but above there is a daily supply zone where a daily correction trend line of a new downtrend is expected.
If it breaks this resistance and rises, a short-term upward wave can come out, and a structure that can complete the entire large correction pattern can come out.
However, if it does not find support from above, it may renew its low by drawing a new weekly correction trend line below the main trend, the monthly downtrend.
good luck.
GBPUSD Time Wave analysis update.
GBPUSD has broken all the support lines of the uptrend and came down.
Therefore, there is no support line below, and monthly and weekly correction trend lines of a downtrend are drawn above.
GBPUSD has been making support from the bottom for several days, drawing a daily correction trend line of the uptrend.
A slight uptrend is expected, but above there is a daily supply zone where a daily correction trend line of a new downtrend is expected.
If it breaks this resistance and rises, a short-term upward wave can come out, and a structure that can complete the entire large correction pattern can come out.
However, if it does not find support from above, it may renew its low by drawing a new weekly correction trend line below the main trend, the monthly downtrend.
good luck.