GBPUSD Wave Outlook: Anticipating an Upward Trend

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Dear Traders,

Trust you are doing great.

Below is my outlook of the GBPUSD currency pair from Elliott wave perspective.

Expectation: Another upward wave targeting 1.27202 level.

Key Factors:

1. Presence of an upward motive wave pattern comprising five components (1)/(A)
2. Completion of a corrective pattern resembling an expanded flat
3. Correction (B)/(2) reaching a 50% retracement of the prior wave
4. Correction (B)/(2) finding robust support.

Validity: Analysis remains applicable unless the starting point of the (1)/(A) wave is breached.
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GBPUSD has done +110Pips since this analysis was shared.
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