GBP/USD: Elliott Wave Analysis and Forecast for 08.08.25 – 15.08.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider short positions from corrections below the level of 1.3583 with a bearish target of 1.2936 – 1.2735. A sell signal: the price holds below 1.3583. Stop Loss: above 1.3620, Take Profit: 1.2936 – 1.2735.
- Alternative scenario: Breakout and consolidation above the level of 1.3583 will allow the pair to continue rising to the levels of 1.3780 – 1.4000. A buy signal: the level of 1.3583 is broken to the upside. Stop Loss: below 1.3545, Take Profit: 1.3780 – 1.4000.
Main Scenario
Consider short positions from corrections below the level of 1.3583 with a target of 1.2936 – 1.2735.
Alternative Scenario
Breakout and consolidation above the level of 1.3583 will allow the pair to continue rising to the levels of 1.3780 – 1.4000.
Analysis
On the weekly time frame, an ascending wave of larger degree (A) of B is developing. Within it, wave 1 of (A) has formed, and a downward correction has completed as wave 2 of (A). On the daily time frame, the third wave 3 of (А) has presumably started unfolding, with the first wave of smaller degree i of 3 formed as its part. Apparently, a descending correction is developing as the second wave ii of 3 on the H4 chart, with wave a of ii forming within. If the presumption is correct, GBP/USD will continue to drop to the levels of 1.2936 – 1.2735. The level of 1.3583 is critical in this scenario as a breakout will enable the pair to continue rising to the levels of 1.3780 – 1.4000.
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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