Posted: June 13, 2025
GBPUSD continues to respect its impulsive channel structure with a potential wave iv pullback in development. The broader trend remains bullish, with wave v expected to push higher once the correction matures.
Pullback toward 1.3305–1.3100 expected as wave iv matures.
Wave v may target 1.3650+ with scope toward 1.3780 if structure holds.
🔍 Elliott Wave Structure
- Price action from the April low has unfolded cleanly into a 5-wave advance, with wave 3 now in place.
- A retracement into the 0.236–0.382 fib zone (1.3305–1.3103) may define the base of wave iv.
- From there, wave v may resume the uptrend toward the next projected fib extensions:
- 1.3786 (3.618)
- 1.3361 (2.618)
⚠️ Levels to Watch
- Support:
- 1.3305 (0.236 retracement)
- 1.3103 (0.382 fib + channel low)
- Upside targets (wave v):
- 1.3650+ toward 1.3780
- A sustained break below 1.3100 would threaten the impulsive count.
📈 Outlook
- Short-term: Neutral to bearish (corrective wave iv)
- Medium-term: Bullish continuation expected once wave iv completes