Elliott Wave Analysis: GBPUSD Could Face A Temporary Correction

GBPUSD rallied up to 1.25000 with five waves as shown on the updated hourly chart. It's an important bullish pattern that suggest even higher prices in days ahead, but after a three wave set-back. We think that a-b-c drop can be coming soon back to 1.2330 level where support can be seen later this week. Any corrections are now part of a new ongoing uptrend, so downside is limited.