Elliott Wave View: GBPUSD Eyeing a Three Wave Zigzag Rally Before Resuming the Downtrend
1 extracted signal · 0 resolved · 1 still active
Elliott Wave ForecastIndependent analyst profile- Source published
- 30 Oct 2026, 02:04 UTC
- Recorded by Tahlil Plus
- 30 Oct 2026, 04:43 UTC
AI-generated source summary
The analysis focuses on the GBPUSD pair, utilizing Elliott Wave theory on a 1-hour timeframe. The current price is observed at 1.33555, with a projected bullish trend. The target price is set at 1.34500, indicating an expected upward movement. A failure bound is established at 1.32500, below which the bullish thesis would be invalidated. The analyst interprets the recent price action as part of a larger corrective pattern, potentially a double zigzag or a truncated 7-wave sequence, suggesting a short-term bullish continuation towards the target before a potential reversal. The longer-term daily chart analysis indicates that the current upward move on the hourly chart is likely a counter-trend rally within a larger bearish structure, possibly completing a 'B' wave at around 1.36800, followed by a decline to new lows below 1.30000.
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