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The Elliott Wave analysis of GBPUSD suggests a five-wave impulsive structure from March 31, 2026, with wave 1 concluding at 1.3658 and wave 2 correcting to 1.33. Wave 3 has since extended the rally, forming a clear impulsive pattern. Traders using Elliott Wave principles may interpret this as a continuation signal toward higher targets. This technical setup is significant for forex traders tracking GBPUSD, as it provides a structured framework for identifying potential entry and exit points based on wave counts. The analysis highlights the importance of monitoring wave 3 extensions and potential wave 4 corrections, which could influence short-term volatility and momentum. Key price levels and Fibonacci retracement targets will be critical for validating the wave count and assessing the likelihood of a sustained bullish trend.
