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fxJul 2, 2026, 3:27 AM

GBP/USD Elliott Wave Analysis Points to Further Weakness

GBP/USD maintains an incomplete bearish Elliott Wave structure from the January 27, 2026 high, supporting a downside bias. A potential target is based on the 100%-161.8% Fibonacci extension.

GBPUSD

The GBP/USD pair continues to exhibit an incomplete bearish Elliott Wave sequence stemming from the January 27, 2026 high, keeping the overall bias tilted to the downside.

Analysts measure the next potential target using the 100% to 161.8% Fibonacci extension from that high, suggesting further weakness ahead. The wave structure remains unfinished, reinforcing the bearish outlook.

No immediate reversal signals have emerged, leaving the pair vulnerable to additional losses in the near term.

Source: FXStreet Forex News