GBP/USD Elliott Wave Analysis
GBP/USD, known as 'Cable,' is one of the oldest and most traded currency pairs. It is known for its volatility, often producing wider intraday ranges than EUR/USD.
GBP/USD impulse waves tend to be aggressive with strong Wave 3 extensions. Wave 5 truncations are more common than in EUR/USD. Corrective waves often form expanded flats, requiring careful invalidation management.
Key psychological levels at 1.2000, 1.2500, 1.3000. Post-Brexit range between 1.2000-1.4200 provides the macro wave structure context.
Cable's volatility makes it ideal for Wave 3 trades but requires wider stops. Use the H4 timeframe for entries and the daily for wave counting.
H4 Wave Count
4-hour timeframe for precise entry timing
Daily Wave Count
Primary trading timeframe structure
Weekly Wave Count
Macro context and trend direction
Fibonacci Targets
Precise price targets from wave structure
Invalidation Levels
Exact price where the count is wrong
Alternative Scenario
What happens if the primary count fails
Get Daily GBP/USD Analysis
Updated before London open, every trading day. H4, Daily, and Weekly wave counts with precise Fibonacci targets.