#GBPUSD Elliott Wave Analysis

A good trader is like a hunter. Most of the job is waiting quietly in the right spot.

Wave (c) of X topped out right at our invalidation, 1.35579. Price has been carving out a corrective pullback since then, and it's now closing in on the 0.5 - 0.618 zone (1.34920 - 1.35075).

This isn't just some random pullback. It's the retracement we want before the next leg down plays out. If price respects this zone and turns, that opens the door for a move back toward 1.32.

That's the difference between watching charts and reading them. Anyone can stare at candles. Reading structure means you already know which zone you're hunting in before price even gets there.

We're not chasing this move lower. We're letting it come to us.