We talked about Cable on March 12 with our members, where we mentioned and highlighted an ongoing five-wave bullish cycle, and it looks like it’s still in play.

GBPUSD 4H Chart From March 12 2025

Due to strong extension higher on the 4-hour time frame it appears to be impulsive. We should be aware of further upside, especially as the market has broken out of a base channel, which typically happens within wave three of three.

GBPUSD 4H Chart From April 03 2025

In fact price is now even higher after a triangle in wave four so wave 5 of red (3) is in progress as expected, but it can target 1.32, so be aware of a new red higher degree wave (4) correction before the bullish trend for wave (5) resumes. Ideal support is at 1.29 – 1.28 area.

For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on March 31 2025:

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