GBP/USD: Elliott Wave Analysis and Forecast for 16.10.26–23.10.26

Major Takeaways Main scenario: Once the correction has been completed, consider short positions below the level of 1.3350 with a target of 1.2938–1.2745. A sell signal: the local correction ends and the price holds below 1.3350. Stop Loss: above 1.3395, Take Profit: 1.2938–1.2745. Alternative scenario: Breakout and consolidation above the level of 1.3350 will allow the pair to continue rising to the levels of 1.3560–1.3675. A buy signal: the level of 1.3350 is broken to the ups