{"id":12381,"date":"2025-04-02T17:55:33","date_gmt":"2025-04-02T17:55:33","guid":{"rendered":"https:\/\/alchemymarkets.wpengine.com\/?post_type=market_insights&#038;p=9744"},"modified":"2025-05-16T08:11:41","modified_gmt":"2025-05-16T08:11:41","slug":"gbp-usd-3rd-wave-continues","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/gbp-usd-3rd-wave-continues\/","title":{"rendered":"GBP\/USD Elliott Wave: 3rd Wave Continues"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GBPUSD continues its wave 3 advance<\/li>\n\n\n\n<li>Current wave is (iv) of ((i)) of 3.<\/li>\n\n\n\n<li>Targets for ((i)) of 3 include 1.33.<\/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 decoding=\"async\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/04\/GBPUSD_2025-04-02_12-47-50-1024x660.png\" alt=\"\" class=\"wp-image-9745\" \/><\/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 price chart is wave (iv) of ((i)) of 3. This wave count implies the rally for Cable is just getting started as it nears the end of wave ((i)).<\/p>\n\n\n\n<p>The current consolidation of wave (iv) should end within the next couple of days, if it hasn\u2019t ended already, leading to a rally in wave (v) of ((i)). If wave (iv) needs to dip further, the 2014 trend line (blue) will likely be an area of <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">support for prices<\/a> to hold above.<\/p>\n\n\n\n<p>Once the wave (v) rallies ensues, we are watching for a target around 1.33.<\/p>\n\n\n\n<p>If Cable is successful in reaching 1.33, then we\u2019ll be on alert for spotting divergence on the RSI indicating the end of the sequence from January 2025. <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/relative-strength-index\/\">RSI divergence<\/a> is typical behavior for a fifth wave of an impulsive pattern.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>GBPUSD has accelerated higher in the beginning stages of wave 3. Cable has been consolidating sideways in a corrective wave (iv) of ((i)). Once (iv) completes, then a wave (v) rally could carry GBPUSD up to 1.33.<\/p>\n\n\n\n<p>The blue trend line may offer support should Cable need to correct lower.<\/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=\"H89hTmjRso\"><a href=\"https:\/\/alchemymarkets.wpengine.com\/education\/market-insights\/quarterly-forecast\/q2-2025-forex-weak-usd-trend-continues\/\">Q2 2025 Forex Forecast: US Dollar Weak Trend Continues<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Q2 2025 Forex Forecast: US Dollar Weak Trend Continues&#8221; &#8212; Alchemy Markets\" src=\"https:\/\/alchemymarkets.wpengine.com\/education\/market-insights\/quarterly-forecast\/q2-2025-forex-weak-usd-trend-continues\/embed\/#?secret=1w9Zq8FWsI#?secret=H89hTmjRso\" data-secret=\"H89hTmjRso\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The GBPUSD Elliott wave forecast is that a small fifth wave rally may carry up to 1.33. Read more for the pattern, details, and key levels.<\/p>\n","protected":false},"author":160,"featured_media":12502,"parent":0,"comment_status":"closed","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-12381","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>GBP\/USD Elliott Wave: 3rd Wave Continues - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"The GBPUSD Elliott wave forecast is that a small fifth wave rally may carry up to 1.33. 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