British Pound/ U.S. Dollar (GBPUSD) - TradingLounge Daily Chart
British Pound/ U.S. Dollar Currency Pair Daily Chart Analysis
GBPUSD Elliott Wave Technical Analysis
Function: Bullish Trend
Mode: Impulsive
Structure: Orange Wave 3
Position: Navy Blue Wave
Direction Next Lower Degrees: Orange Wave 4
Details: Orange Wave 2 of 3 appears completed; Orange Wave 3 is now in progress.
Wave Cancellation Invalidation Level: 1.20966
GBPUSD Forex Pair Analysis Overview
The GBPUSD Elliott Wave Analysis for the daily chart presents a bullish trend, driven by impulsive market movement. The price structure indicates that Orange Wave 3 is unfolding within the larger Navy Blue Wave, signaling strong upward momentum.
Wave Progression and Key Levels
Summary
The GBPUSD daily chart analysis confirms a bullish Elliott Wave structure, with the pair progressing in Orange Wave 3 within the Navy Blue Wave. The recent completion of Orange Wave 2 supports further upside movement.
📌 Key Takeaways:
✔ Bullish momentum remains intact as long as the price stays above 1.20966.
✔ Orange Wave 3 is expected to push the price higher, followed by Orange Wave 4 as a correction.
✔ This structure provides traders with a roadmap to navigate potential price movements.

British Pound/ U.S. Dollar (GBPUSD) - 4-Hour Chart
GBPUSD Elliott Wave Technical Analysis
Function: Bullish Trend
Mode: Impulsive
Structure: Gray Wave 3
Position: Orange Wave 3
Direction Next Higher Degrees: Gray Wave 3 (Started)
Details: Gray Wave 2 of Orange Wave 3 appears completed; Gray Wave 3 is now in progress.
Wave Cancellation Invalidation Level: 1.20966
GBPUSD Currency Analysis Overview
The GBPUSD Elliott Wave Analysis on the 4-hour chart indicates an ongoing bullish trend with an impulsive wave structure. The market is currently developing Gray Wave 3, which forms a segment of the broader Orange Wave 3, reinforcing the bullish sentiment.
Wave Progression and Key Levels
Summary
The GBPUSD 4-hour chart analysis suggests that the currency pair remains in a strong bullish phase, progressing through Gray Wave 3 of Orange Wave 3.
📌 Key Takeaways:
✔ The bullish trend remains intact unless the price drops below 1.20966.
✔ Gray Wave 3 is expected to continue pushing the price higher, confirming strong momentum.
✔ This analysis offers traders a structured outlook to anticipate future price movements.
Technical Analyst: Malik Awais
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