{"id":14345,"date":"2025-07-30T19:57:23","date_gmt":"2025-07-30T19:57:23","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=14345"},"modified":"2025-07-30T19:57:25","modified_gmt":"2025-07-30T19:57:25","slug":"gbpusd-declining-in-wave-2","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/gbpusd-declining-in-wave-2\/","title":{"rendered":"GBP\/USD Elliott Wave: Declining in Wave 2"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GBPUSD completed wave ((i)) of a larger bullish impulse sequence.<\/li>\n\n\n\n<li>Current decline is viewed as wave ((ii)) and may reach 1.31 and possibly 1.27.<\/li>\n\n\n\n<li>Current forecast for additional declines holds while prices remain below 1.3589.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">GBPUSD Elliott Wave Count<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"746\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPUSD_2025-07-30_14-51-42-1024x746.png\" alt=\"\" class=\"wp-image-14346\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPUSD_2025-07-30_14-51-42-1024x746.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPUSD_2025-07-30_14-51-42-300x218.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPUSD_2025-07-30_14-51-42-768x559.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPUSD_2025-07-30_14-51-42.png 1173w\" 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> is that GBPUSD is declining in wave (c) of a larger (a)-(b)-(c) correction. This downtrend is anticipated to reach 1.3139 and possibly as low as 1.27.&nbsp;<\/p>\n\n\n\n<p>This downward correction would consolidate the rally from January to July 2025. The rally needed 5 months to unfold, so this decline may need 2-8 months to consolidate.<\/p>\n\n\n\n<p>Wave (v) of the H1 2025 impulse rally was an ending diagonal pattern, shaped like a <a href=\"https:\/\/alchemymarkets.com\/education\/strategies\/rising-wedge-pattern\/\">rising wedge<\/a>.<\/p>\n\n\n\n<p>When an ending diagonal pattern appears, oftentimes there is a quick retracement back to the origination of the diagonal. In this case, the forecast is for a swift retracement back to 1.3139 and possibly lower levels.<\/p>\n\n\n\n<p>If lower levels are sought after, there is a <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">support trend line<\/a> developed from 2014 that passes through near 1.27. Also, in the same area is the <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">61.8% Fibonacci retracemen<\/a>t level.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>GBPUSD has progressed through the first wave of a larger degree wave 3. The decline from July 1 is viewed as wave ((ii)) of 3 and opens the door for the bearish count and lower levels down to 1.27-1.31.<\/p>\n\n\n\n<p>Once lower price levels are established, then the prospects for a large and booming rally likely increase later on in 2025.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The GBPUSD Elliott wave forecast calls for a decline in wave 2 that might reach 1.27. See key levels inside.<\/p>\n","protected":false},"author":160,"featured_media":14349,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-14345","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: Declining in Wave 2 - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"The GBPUSD Elliott wave forecast calls for a decline in wave 2 that might reach 1.27. 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