The GBP/USD pair continues to move lower, following the path outlined by the Elliott Wave forecast. The ongoing decline suggests that the market is currently in blue wave 3, which typically represents one of the strongest and most impulsive stages in a downtrend. Based on the current wave structure, the projected target for blue wave 3 is near the 1.43 level in the coming weeks.
This downward movement aligns well with the overall bearish outlook that has been in place since mid-2015. After completing the earlier corrective phases, GBP/USD resumed its downward momentum, reflecting both technical and fundamental pressure. The strength of the U.S. dollar, supported by expectations of policy tightening from the Federal Reserve, has also contributed to the continued weakness of the British pound.
From a trading perspective, this setup offers potential opportunities for medium-term traders who are following the forecast of GBP to USD. Those who prefer to trade with the trend may consider short positions either from the current levels or on minor pullbacks. The ideal stop loss should be placed just above the start of blue wave 3 to protect against unexpected reversals. By managing risk carefully, traders can take advantage of the continuation of this bearish wave while staying aligned with the broader market direction.
The GBP to USD prediction based on Elliott Wave theory indicates that once blue wave 3 reaches its completion near 1.43, the pair may enter a temporary correction phase before resuming its longer-term decline. This type of corrective wave often provides traders with a chance to reassess market conditions and plan new entries. However, as long as the price remains below recent swing highs, the dominant trend remains bearish.
The Elliott Wave forecast remains one of the most reliable tools for understanding and anticipating market behavior. It helps traders recognize where they are within a larger pattern, offering both strategic entry points and logical exit zones. For now, the technical picture for GBP/USD continues to favor the sellers, with the next key milestone resting around the 1.43 mark.
Disclaimer: This article is for educational and informational purposes only. It is not financial advice. Always perform your own analysis or consult with a qualified financial advisor before trading the forex market.
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