GBPUSD at Risk of Reversal — Watch This Closely

May 4

Before diving into the GBPUSD(GBPUSD) analysis, we should note recent Middle East news: it appears Iran has attacked U.S. ships in the Strait of Hormuz. Historically, heightened tensions like this drive the DXY index(DXY) higher, which puts significant pressure on USD pairs. One such pair is GBPUSD, so let’s look at the technical analysis.

From an Elliott Wave perspective, it seems GBPUSD has completed its five-wave upward impulse, and we might now anticipate a corrective downward move.

Also, we can see a negative Regular Divergence(RD-) between two consecutive peaks.

I expect GBPUSD to have a bearish move—especially with the U.S. market open—and to drop at least toward $1.3420.

Target: $1.3420

Stop Loss(SL): $1.3660

What’s your opinion on GBPUSD? Do you think it will break lower, or might it find support?

💡 Please respect each other's opinions and express agreement or disagreement politely.

📌 British Pound / U.S Dollar Analysis (GBPUSD), 4-hour time frame.

🛑 Always set a Stop Loss(SL) for every position you open.

✅ This is just my idea; I’d love to see your thoughts too!

🔥 If you find it helpful, please BOOST this post and share it with your friends.

May 4

Trade active

Trade was activated

May 15

Trade closed: target reached

Target Done($1.3420)

Although GBPUSD initially moved against the analysis, it never touched the Stop Loss (SL) at $1.3660 and eventually reached the target successfully.

Thank you for your patience