{"id":16120,"date":"2025-10-23T01:04:46","date_gmt":"2025-10-23T01:04:46","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=16120"},"modified":"2025-10-23T01:04:49","modified_gmt":"2025-10-23T01:04:49","slug":"gbpusd-another-leg-down","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/","title":{"rendered":"GBP\/USD Elliott Wave: Another Leg Down"},"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 decline in the 2nd leg of a double zigzag pattern.<\/li>\n\n\n\n<li>Though a rally to 1.3550 would be considered \u2018normal\u2019, the larger trend is down.<\/li>\n\n\n\n<li>Downside targets include 1.3050-1.3139.<\/li>\n<\/ul>\n\n\n\n<p>Back on <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-medium-term-top\/\">September 19<\/a>, two-days after a medium term top, we forecasted a decline in GBPUSD reaching to 1.31 and possibly 1.28. Cable has progressed lower and the Elliott wave pattern appears to be incomplete to the downside.<\/p>\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=\"647\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/GBPUSD_2025-10-22_19-50-24-1024x647.png\" alt=\"\" class=\"wp-image-16121\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/GBPUSD_2025-10-22_19-50-24-1024x647.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/GBPUSD_2025-10-22_19-50-24-300x190.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/GBPUSD_2025-10-22_19-50-24-768x485.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/GBPUSD_2025-10-22_19-50-24-1536x971.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/GBPUSD_2025-10-22_19-50-24.png 1563w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>GBPUSD carved a wave ((x)) high on September 17 at 1.3726. The decline since September 17 fits best as wave ((y)).&nbsp;<\/p>\n\n\n\n<p>We know from our <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave studies<\/a> that this y-wave is likely to take shape as an (a)-(b)-(c) zigzag pattern.<\/p>\n\n\n\n<p>It appears Cable is about half-way through the wave (b). It is possible GBPUSD may rally further up to 1.3550 to complete (b). Then, the next wave, wave (c) would be a motive pattern that likely digs down to 1.31 and possibly lower levels.<\/p>\n\n\n\n<p>There are a few wave relationships appearing between 1.3050 &#8211; 1.3139 so we\u2019ll need to see how advanced the wave structure is if price is successful in reaching down that low.<\/p>\n\n\n\n<p>The key level to the bearish forecast is 1.3726. If GBPUSD rallies above this level, then we\u2019ll need to reconsider a different Elliott wave pattern at play.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>GBPUSD appears to be about halfway through its next leg lower. A rally to 1.3550 would be considered \u2018normal\u2019 within the Elliott wave structure we are following. However, the trend is still lower and the next trend may dig deeper to 1.3050-1.3139.<\/p>\n\n\n\n<p>If 1.3726 is breached to the upside, then we\u2019ll reconsider the wave count.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The GBPUSD Elliott wave forecast is for a decline in the exchange rate. Read more for the key levels to follow.<\/p>\n","protected":false},"author":160,"featured_media":16124,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-16120","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: Another Leg Down - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"The GBPUSD Elliott wave forecast is for a decline in the exchange rate. Read more for the key levels to follow.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GBP\/USD Elliott Wave: Another Leg Down - Alchemy Markets\" \/>\n<meta property=\"og:description\" content=\"The GBPUSD Elliott wave forecast is for a decline in the exchange rate. Read more for the key levels to follow.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/\" \/>\n<meta property=\"og:site_name\" content=\"Alchemy Markets\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-23T01:04:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/20251022_1945_GBPUSD_CurrencyDecline-1024x683.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Tempo di lettura stimato\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minuti\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/USD Elliott Wave: Another Leg Down - Alchemy Markets","description":"The GBPUSD Elliott wave forecast is for a decline in the exchange rate. Read more for the key levels to follow.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/","og_locale":"it_IT","og_type":"article","og_title":"GBP\/USD Elliott Wave: Another Leg Down - Alchemy Markets","og_description":"The GBPUSD Elliott wave forecast is for a decline in the exchange rate. Read more for the key levels to follow.","og_url":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/","og_site_name":"Alchemy Markets","article_modified_time":"2025-10-23T01:04:49+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/20251022_1945_GBPUSD_CurrencyDecline-1024x683.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Tempo di lettura stimato":"2 minuti"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/","url":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/","name":"GBP\/USD Elliott Wave: Another Leg Down - Alchemy Markets","isPartOf":{"@id":"https:\/\/alchemymarkets.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/#primaryimage"},"image":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/#primaryimage"},"thumbnailUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/20251022_1945_GBPUSD_CurrencyDecline.png","datePublished":"2025-10-23T01:04:46+00:00","dateModified":"2025-10-23T01:04:49+00:00","description":"The GBPUSD Elliott wave forecast is for a decline in the exchange rate. Read more for the key levels to follow.","breadcrumb":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/#breadcrumb"},"inLanguage":"it-IT","potentialAction":[{"@type":"ReadAction","target":["https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/"]}]},{"@type":"ImageObject","inLanguage":"it-IT","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/#primaryimage","url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/20251022_1945_GBPUSD_CurrencyDecline.png","contentUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/10\/20251022_1945_GBPUSD_CurrencyDecline.png","width":1536,"height":1024},{"@type":"BreadcrumbList","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-another-leg-down\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/alchemymarkets.com\/"},{"@type":"ListItem","position":2,"name":"Market Insights","item":"https:\/\/alchemymarkets.com\/education\/market-insights\/"},{"@type":"ListItem","position":3,"name":"GBP\/USD Elliott Wave: Another Leg Down"}]},{"@type":"WebSite","@id":"https:\/\/alchemymarkets.com\/#website","url":"https:\/\/alchemymarkets.com\/","name":"Alchemy Markets","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/alchemymarkets.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"it-IT"}]}},"_links":{"self":[{"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/market_insights\/16120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/market_insights"}],"about":[{"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/types\/market_insights"}],"author":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/users\/160"}],"replies":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/comments?post=16120"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/media\/16124"}],"wp:attachment":[{"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/media?parent=16120"}],"wp:term":[{"taxonomy":"market_insights_categories","embeddable":true,"href":"https:\/\/alchemymarkets.com\/it\/wp-json\/wp\/v2\/market_insights_categories?post=16120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}