Major Key Points to Consider
- Primary Scenario (Bullish) : Consider long positions from corrections above the level of 1.30 with a target of 1.3700 – 1.3900. A buy signal: the price holds above 1.3000. Stop Loss: below 1.30, Take Profit: 1.3700 – 1.3900.
- Alternative Scenario (Bearish): Breakout and consolidation below the level of 1.30 will allow the pair to continue declining to the levels of 1.280 – 1.250. A sell signal: the level of 1.30 is broken to the downside. Stop Loss: above 1.30, Take Profit: 1.280 – 1.250.
Technical Indicators
Trend: Short-term consolidation within a long-term uptrend
Support Levels: 1.28118 – 1.27174
Resistance Levels: 1.3463 – 1.3733
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 completed.
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 seems completed.
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 (v) of wave ((c)), has been Completed and Now Price is moving in wave 3 of large degree.
If this Presumption is correct then GBP/USD may continue to rise the Price levels of 1.3700 – 1.3900.
GBP/USD : 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.
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