{"id":7710,"date":"2025-01-10T23:08:22","date_gmt":"2025-01-10T23:08:22","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=7710"},"modified":"2025-05-12T12:29:14","modified_gmt":"2025-05-12T12:29:14","slug":"gbpusd-leaner-look","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/elliott-wave\/gbpusd-leaner-look\/","title":{"rendered":"Pound\u2019s Leaner Look: Is It Fit to Rebound? [GBP\/USD Elliott Wave]"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GBPUSD is declining in wave ((c)) of 2<\/li>\n\n\n\n<li>Bearish targets include 1.2000 and 1.1670<\/li>\n\n\n\n<li>The forecast remains valid so long as price remains below 1.2576<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Current GBPUSD Elliott Wave Count<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"677\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/01\/GBPUSD_2025-01-10_16-54-55-1024x677.png\" alt=\"\" class=\"wp-image-7713\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/01\/GBPUSD_2025-01-10_16-54-55-1024x677.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/01\/GBPUSD_2025-01-10_16-54-55-300x198.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/01\/GBPUSD_2025-01-10_16-54-55-768x508.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/01\/GBPUSD_2025-01-10_16-54-55.png 1335w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The current <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave count<\/a> for GBPUSD on the daily chart is that prices are in the late stages of wave ((c)) of 2. Wave 2 would be a large flat pattern that began at the end of wave 1 on July 2023. This pattern has progressed for 18 months and has only retraced approximately 38% of wave 1. This is common behaviour for a flat pattern to take time to carve while correcting narrowly in price.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Downside Targets<\/h2>\n\n\n\n<p>We can estimate some downside targets of this large pattern based on some market geometry.<\/p>\n\n\n\n<p>The first target is around 1.2000 with another lower target near 1.1670.&nbsp;<\/p>\n\n\n\n<p>The first target of 1.2000 contains the 38.2% <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">Fibonacci retracement level<\/a> of wave 1 plus the swing low of wave ((a)).<\/p>\n\n\n\n<p>If prices continue to fall aggressively below 1.2000, then the next target is near 1.1670.<\/p>\n\n\n\n<p>The second target is guarded by the 50% Fibonacci retracement level plus the 1.618 <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">Fibonacci extension<\/a> where wave ((c)) is 1.618 times the length of wave ((a)).<\/p>\n\n\n\n<p>When assessing the EUR\/GBP cross pair, it appears GBP would be relatively weaker than EUR as we are anticipating a strong rally in EUR\/GBP. So GBPUSD may fall faster and harder than EURUSD. Or, GBPUSD may not rally as fast as EURUSD. We mentioned this in our Q1 2025 Forex Forecast.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>GBPUSD is in the latter part of a wave 2 decline that could carry down to 1.2000 or 1.1670. This forecast remains in force so long as current prices remain below the January 7 high of 1.2576.<\/p>\n\n\n\n<p><strong><em>You might also be interested in:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-alchemy-markets wp-block-embed-alchemy-markets\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"Ovlqd6gMoT\"><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/quarterly-forecast\/q1-2025-forex-us-dollar-looking-for-top\/\">Q1 2025 Forex Forecast: US Dollar Looking For A Top<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Q1 2025 Forex Forecast: US Dollar Looking For A Top&#8221; &#8212; Alchemy Markets\" src=\"https:\/\/alchemymarkets.com\/education\/market-insights\/quarterly-forecast\/q1-2025-forex-us-dollar-looking-for-top\/embed\/#?secret=1wgHrtSxd5#?secret=Ovlqd6gMoT\" data-secret=\"Ovlqd6gMoT\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/USD forecast targets 1.2000 &amp; 1.1670, staying bearish below 1.2576. Elliott Wave analysis suggests more downside ahead.<\/p>\n","protected":false},"author":160,"featured_media":7711,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-7710","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pound\u2019s Leaner Look: Is It Fit to Rebound? [GBP\/USD Elliott Wave] - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"GBP\/USD forecast targets 1.2000 &amp; 1.1670, staying bearish below 1.2576. 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