Major Key Points to Consider
- Primary Scenario (Bearish) : Consider short positions from corrections below the level of 1.3415 with a target of 1.29550 – 1.2785. A sell signal: the price holds below 1.31483. Stop Loss: above 1.33850, Take Profit: 1.29550 – 1.2785.
- Alternative Scenario (Bullish): Breakout and consolidation above the level of 1.32150 will allow the pair to continue rising to the levels of 1.3783 – 1.4000. A buy signal: the level of 1.3367 is broken to the upside. Stop Loss: below 1.32250, Take Profit: 1.3350 – 1.33950.
Technical Indicators
Trend: Short-term consolidation within a long-term uptrend
Support Levels: 1.28118 – 1.27174
Resistance Levels: 1.33963 – 1.35261
Momentum: Neutral to bullish on daily timeframe
Elliott Wave Analysis
On A Weekly Chart : On the Weekly Chart of GBP/USD the larger degree wave (A) is still Developing. Within This Larger wave (A) Leg B of Larger wave (A) is in process to develop. This leg B is in a large Zig Zag Pattern of which the Wave (1) & Correction Wave (2) has been completed on Jul’2023 & Jan’2025. From This onwards the Wave (3) is in Process to develop on Weekly Chart. By the end of Jun’2025 wave 1 is Completed of Smaller Degree. From Jul’2025 onwards the Structure is in correction for its wave 2 that seems now Incomplete and still in process to develop.
On A Daily Chart : A Leg of Correction Starting from the end of Wave 1 from Jul’2025 has been Completed on Aug’2025 and Leg B has been Completed on Sep’2025. The Remaining Leg of Wave C is still developing on Daily chart of GBP/USD.
On A 4-Hours Chart : The Leg C of Wave 2 is developing on 4-Hour Chart of GBP/USD from Sep’2025 in form of a Downward Impulse towards the ending of Wave 2 of large Degree. Within this downward Impulse, the Impulse (i) , Correction (ii) , Impulse (iii) and Correction (iv) has been Completed and Now Price is moving to final downward impulse (v). At This Point of Completion the Correction Wave 2 of Larger Degree will about to complete but still in process to develop more.
If this Presumption is correct then GBP/USD may continue to Decline to the Price levels of 1.29550 – 1.2785.
GBP/USD : Gold Current Rate in the Market
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of Webmile | Markets [A propriety of SingleDot Technologies]. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice. According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Latest News
Market Forecast
Expert Elliott Wave Analysis
We Help to identifies impulsive and corrective phases, helping traders predict price movements. By recognizing these natural market cycles, traders can identify trends, reversals, and ideal entry points, improving their trading precision and overall decision-making across different financial markets.