GBP/USD: 5th Wave On Deck

Published 04/09/2026, 08:43 AM

Forex Strategy is Bullish: GBP/USD is currently at 1.3411  in a channel and the start of a 5th  wave. We are looking for a small pullback and then to continue to the ATR target at the 1.3497 area. The 5th wave target is 1.3566. We have convergence on the hourly.

US dollar is currently down. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 95 pips per day, and its 90-day average is 89 pips per day.

Note: US Unemployment Claims Negative today!

GBPUSD – 5th Wave On Deck

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