GBP/USD: Elliott Wave Analysis and Forecast for 09.05.25 – 16.05.25

Major Takeaways Main scenario: Consider short positions from corrections below the level of 1.3400 with a target of 1.2760 – 1.2600. A sell signal: the price holds below 1.3400. Stop Loss: above 1.3440, Take Profit: 1.2760 – 1.2600. Alternative scenario: Breakout and consolidation above the level of 1.3400 will allow the pair to continue rising to the levels of 1.3750 – 1.4000. A buy signal: the level of 1.3400 is broken to the upside. Stop Loss: below 1.3360, Take Profit: 1.37