GBP/USD Back Into Bullish Mode

 | Jan 18, 2022 07:13AM ET

GBP/USD underwent a three-wave A-B-C decline since June 2021 highs, connecting within channel range and with equal measurement of waves A=C.

It indicates a higher degree wave IV correction, especially after recent sharp and impulsive reversal from 1.3160 lows and back above channel resistance line that confirms lows is in place.