Outlook GBP/USD: initial support for now withdrawal
The cable remains in the rear foot on Wednesday after Tuesday’s withdrawal from the fresh multi -level height (1.3593), which has pushed psychological support 1,3500. The price dropped this morning to 1.3561, but a quick reflection to 1,3500 zones indicate the wind that fresh bears are facing.
Today’s action has so far been shaped in the Doji candle (indecision) with a compact -term probe below the initial FIBO support at 1.3486 (23.6% 1.3195/1.3593 UPLE), adding to the potential creation of a bear trap, in a very shallow script of pulling previous fresh tests. Read more …
GBP/USD forecast: Sterling Pound Sellers can show interest with a break below 1.3500
GBP/USD trades in a narrow channel slightly above 1.3500 on Wednesday After closing on a negative territory and breaking the six days of the winning series on Tuesday. The technical perspectives of the pair did not yet indicate the bears of reversions, but sellers can take action if the couple introduce 1,3500 resistance.
The American dollar (USD) achieved better results on Tuesday and weighed GBP/USD, supported by an improvement in the sentiment around the American economy based on positive data editions. Read more …
Elliott Wave Blue Boxes power: GBP/USD Perfect Bounty
On this technical blog we will look at the earlier performance of 1-hour Wave Elliott GBPUSD charts. In which the rally from January 13, 2025 is developing as a impulse sequence and therefore showed a higher high sequence, required a higher extension. We knew that the structure in GBPUSD should remain served and extended higher. So we advised members not to sell pairs and not buy dips in 3, 7 or 11 swings in the areas of blue boxes.
Here is a 1-hour Elliott wave Chart From Asia update 5.09.2025. In which the rally to an altitude of $ 1,3443 graduated from wave 1 and withdrew in the wave 2. Internal withdrawal developed when Elliott Wave Zigzag Correction, in which the wave ((a)) was at USD 1.3257. Then a reflection to a high content of $ 1.3403 USD ((b)) and began the next lower leg in the wave ((C)) in the direction of 1,3216-1,3100 USD Blue Box. From there, it was expected that buyers would look like looking for fresh ups or a minimum of 3-balls. Read more …
