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British Pound/U.S. Dollar (GBPUSD) – Day Chart

GBPUSD Elliott Wave Technical Analysis

• Function: Bullish Trend
• Mode: Impulsive
• Structure: Orange Wave 3
• Position: Navy Blue Wave 3
• Next Lower Degree Direction: Orange Wave 4
• Details: Orange Wave 2 appears complete, and Orange Wave 3 is currently developing.
• Wave Cancellation Invalid Level: 1.25237

GBPUSD Elliott Wave Analysis – Market Overview

The GBPUSD Elliott Wave Analysis for the day chart indicates a bullish trend, with the market currently in an impulsive phase. The price structure follows Orange Wave 3, which is part of a larger upward movement within Navy Blue Wave 1. This confirms that the market is in a strong uptrend, typical of an impulsive wave formation.

Following the completion of Orange Wave 3, the next expected move is Orange Wave 4, which will likely act as a corrective phase before the trend resumes.

Wave Structure & Market Implications

• Orange Wave 2 is completed, and Orange Wave 3 is actively forming with strong bullish momentum.
• Traders should monitor the development of Orange Wave 3, as its completion will likely signal the beginning of Orange Wave 4—a corrective phase that might bring temporary pullbacks or market consolidation.
• Key Level to Watch:
  • If the price falls below 1.25237, the current wave count becomes invalid.
  • A breach of this level may suggest a shift in trend or a restructuring of the wave pattern.

Conclusion

The GBPUSD market is firmly in a bullish trend, with Orange Wave 3 now playing out following the completion of Orange Wave 2. This movement is part of Navy Blue Wave 1, and the next anticipated shift is Orange Wave 4, marking a corrective phase.

Traders should pay close attention to the completion of Orange Wave 3, as it will provide insights into the direction and timing of the next market movement. Understanding wave structures is crucial for making informed trading decisions and aligning strategies with potential price action.

British Pound/U.S. Dollar (GBPUSD) – 4-Hour Chart

GBPUSD Elliott Wave Technical Analysis

• Function: Bullish Trend
• Mode: Impulsive
• Structure: Orange Wave 3
• Position: Navy Blue Wave 3
• Next Lower Degree Direction: Orange Wave 4
• Details: Orange Wave 2 appears complete, and Orange Wave 3 is currently developing.
• Wave Cancellation Invalid Level: 1.25237

GBPUSD Elliott Wave Analysis – Market Overview

The GBPUSD Elliott Wave Analysis for the 4-hour chart indicates a bullish trend, with the market currently in an impulsive phase. The price structure follows Orange Wave 3, which is part of a larger upward movement within Navy Blue Wave 3. This confirms that the market is in a strong uptrend, typical of an impulsive wave formation.

Following the completion of Orange Wave 3, the next expected move is Orange Wave 4, which will likely act as a corrective phase before the trend resumes.

Wave Structure & Market Implications

• Orange Wave 2 is completed, and Orange Wave 3 is actively forming with strong bullish momentum.
• Traders should monitor the development of Orange Wave 3, as its completion will likely signal the beginning of Orange Wave 4—a corrective phase that might bring temporary pullbacks or market consolidation.
• Key Level to Watch:
  • If the price falls below 1.25237, the current wave count becomes invalid.
  • A breach of this level may suggest a shift in trend or a restructuring of the wave pattern.

Conclusion

The GBPUSD market is firmly in a bullish trend, with Orange Wave 3 now playing out following the completion of Orange Wave 2. This movement is part of Navy Blue Wave 3, and the next anticipated shift is Orange Wave 4, marking a corrective phase.

Traders should pay close attention to the completion of Orange Wave 3, as it will provide insights into the direction and timing of the next market movement. Understanding wave structures is crucial for making informed trading decisions and aligning strategies with potential price action.

Technical Analyst : Malik Awais

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