{"id":20302,"date":"2026-01-14T19:58:26","date_gmt":"2026-01-14T19:58:26","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=20302"},"modified":"2026-01-14T19:58:27","modified_gmt":"2026-01-14T19:58:27","slug":"gbpusd-chopping-lower-temporary-decline","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/elliott-wave\/gbpusd-chopping-lower-temporary-decline\/","title":{"rendered":"GBP\/USD Elliott Wave: Chopping Lower In Temporary Decline"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GBPUSD finished the first wave of a larger third wave.<\/li>\n\n\n\n<li>Current decline is viewed as wave (ii) of ((i)) of 3.<\/li>\n\n\n\n<li>The forecast is bullish while holding above 1.3010.<\/li>\n<\/ul>\n\n\n\n<p>Back on <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/gbpusd-sterling-ready-to-shine\/\">November 13<\/a>, while trading at 1.3190, we forecasted a major low and large rally for GBP\/USD that may extend to 1.48. Cable, so far, has reached a high of 1.3567 and the pattern we are following appears incomplete.<\/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=\"620\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/GBPUSD_2026-01-14_13-55-56-1024x620.png\" alt=\"\" class=\"wp-image-20303\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/GBPUSD_2026-01-14_13-55-56-1024x620.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/GBPUSD_2026-01-14_13-55-56-300x182.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/GBPUSD_2026-01-14_13-55-56-768x465.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/GBPUSD_2026-01-14_13-55-56.png 1501w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>GBPUSD appears to have completed wave 2 at the 1.3010 low on November 5. We know from our <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave studies<\/a> that this suggests a wave 3 rally. Wave 3 tends to have a similar size or Fibonacci proportions to the wave 1, or 2025 rally.<\/p>\n\n\n\n<p>Using the <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">Fibonacci extension tool<\/a>, this projects a 100% wave 3 rally at 1.48.&nbsp;<\/p>\n\n\n\n<p>But first, GBPUSD appears to be correcting lower within a smaller degree wave (ii). This wave (ii) decline has met the minimum expectations at the 23.6% <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">Fibonacci retracement<\/a> level. However, more commonly, wave (ii) tends to retrace between 38.2% and 78.6%. This would yield a lower decline to 1.3125 &#8211; 1.3333.<\/p>\n\n\n\n<p>Then, once wave (ii) is in place, GBPUSD would need to break above the <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">price channel resistance<\/a> near 1.3650.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>GBPUSD appears to be correcting lower in a smaller degree wave (ii). We suspect this decline may halt near 1.3125 &#8211; 1.3333 and lead to a large wave 3 rally that possibly reaches 1.48.<br>If the 1.3010 <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">support<\/a> low is broken, then wave \u20182\u2019 is extending lower.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The GBPUSD Elliott wave forecast hints of a continued temporary decline in the exchange rate, then a booming rally. Key levels inside.<\/p>\n","protected":false},"author":160,"featured_media":20309,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-20302","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: Chopping Lower In Temporary Decline - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"The GBPUSD Elliott wave forecast hints of a continued temporary decline in the exchange rate, then a booming rally. 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