Hello fellow traders. In this technical article, we’ll take a look at the GBPUSD Elliott Wave charts published in our members’ area. As our members know, GBPUSD has completed a textbook 5-wave pattern within a cycle that started at the 1.3677 peak. In this article, we’ll break down the Elliott Wave structure and examine the near-term outlook for GBPUSD.
For those who are not familiar with the most common Elliott Wave structures, we recommend checking out our Free Educational Page to learn more.
GBPUSD Elliott Wave 4 Hour Chart 10.10.2026
GBPUSD is forming a 5-wave pattern in the cycle from the 1.3677 peak. The current structure suggests an Elliott Wave Double Three pattern, with one more move down needed to complete the 5 waves. At this stage, we see ((iv)) as completed. However, we are aware that the structure could remain sideways and alternatively still develop into a Triangle pattern or even form an Expanded Flat before breaking toward new lows. Anyway, the target for wave ((v)) is obtained by measuring the inverse 123.6%–161.8% extension of wave ((iv)). In this case, the target for wave ((v)) comes in at the 1.3180–1.3140 area.
Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.
GBPUSD Elliott Wave 4 Hour Chart 10.16.2026
GBPUSD remained sideways and made another leg down after completing a Triangle pattern in wave ((iv)). Wave ((v)) reached our target zone and triggered a sharp rally that looks impulsive. The current view suggests that the rally could be the first leg of a larger bounce.
Note: Some labels have been removed from the chart to protect our clients’ privacy.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room
