GBP/USD – Up trend in 4 hours chart

gTrend is bullish in 4 hours chart of GBP/USD currency pair. Since yesterday, price is moving down and this looks like a Wave 4 pull back. Support is present at 1.5440 price level and as long as price is staying above 1.5440 support level the bullish Elliott wave forecast remains valid.

Price is probably going to resume an up trend in next coming trading days. If bearish candlestick closes below 1.5440 critical support level then bullish trend is going to end. Henceforth, I may jump at the chance to stay out of the market and re-inspect the price action.

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