GBPUSD 5D UPDATE

πŸ“Š Timeframe: 5-DaysChart
πŸ“‰ Market: GBPUSD

Wave (1) Completed: The chart shows a completed five-wave impulse structure marked as Wave (1) at the recent high.

Correction in Progress: The price is currently in a corrective A-B-C structure, with Wave B forming a temporary retracement.

Bearish Channel: The corrective wave is forming within a downward-sloping channel, suggesting a move lower towards Wave C (2).

Target Zone: The price is expected to drop further to the yellow support zone, where Wave (2) could complete before a strong bullish move.

Invalidation Level: If the price breaks above 1.3015, it may invalidate the corrective outlook.

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