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GBPUSD Technical Analysis: Is a Major Reversal Imminent According to Elliott Wave?

The decline in GBPUSD starting from the 1.38000 peak is technically taking the shape of an (a)-(b)-(c) corrective pattern. In our current analysis, a final...

GBPUSD Technical Analysis: Is a Major Reversal Imminent According to Elliott Wave?
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The decline in GBPUSD starting from the 1.38000 peak is technically taking the shape of an (a)-(b)-(c) corrective pattern. In our current analysis, a final move toward the 1.33800 - 1.34000 support zone (Alternative-1), aligning with the 0.786 Fibonacci retracement, is our primary expectation. However, a high-volume break of the descending trendline would trigger Alternative-2. Our strategy is to monitor the sustainability of such a breakout to join the new bullish trend. Subscribe to our newsletter to follow our professional analysis in real-time and access profitable trade setups!

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