GBP/USD: Elliott wave analysis and forecast for 06.06.25 – 13.06.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider long positions from corrections above the level of 1.3488 with a target of 1.3750 – 1.4000. A buy signal: the correction ends and the price resumes rising from 1.3488. Stop Loss: below 1.3410, Take Profit: 1.3750 – 1.4000.
- Alternative scenario: Breakout and consolidation below the level of 1.3488 will allow the pair to continue declining to the levels of 1.3138 – 1.2926. A sell signal: the level of 1.3488 is broken to the downside. Stop Loss: above 1.3560, Take Profit: 1.3138 – 1.2926.
Main Scenario
Consider long positions from corrections above the level of 1.3488 with a target of 1.3750 – 1.4000.
Alternative Scenario
Breakout and consolidation below the level of 1.3488 will allow the pair to continue declining to the levels of 1.3138 – 1.2926.
Analysis
On the daily time frame, the ascending first wave of larger degree 1 of (A) has formed, followed by a downward correction as the second wave 2 of (A). The formation of the third wave 3 of (A) has now begun. The first counter-trend wave of smaller degree i of 3 continues developing on the H4 chart, with wave (v) of i forming as its part. Apparently, wave v of (v) continues developing on the H1 chart. If this assumption is correct, the GBP/USD pair will continue to rise to 1.3750 – 1.4000. The level of 1.3488 is critical in this scenario as a breakout will enable the pair to continue declining to the levels of 1.3138 – 1.2926.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of GBPUSD in real time mode
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