confused on this longBritish Pound/US DollarFX:GBPUSDsompaOn this GBPUSD 1H chart you’re mapping out a fresh 5‑wave impulsive structure from the recent low: Wave (1) – First push up from the bottom, breaking the prior intraday structure and suggesting a potential trend change. Wave (2) – Pullback that respects the origin low (green circle) and holds above it, keeping the bullish idea valid. Wave (3)—Strong extension higher, larger than wave (1), which is typical for an impulsive move. Wave (4)—Current corrective leg, overlapping into the highlighted box but still staying above wave (1) high and the (2) low, so the structure remains intact. Projected Wave (5) – You’re targeting a continuation higher towards ~1.3490, with the green zone as the long area and the red zone as invalidation around 1.3247. Trading idea from this setup: Bias: Bullish as long as price holds above the (2)/(4) support region and especially above 1.3247. Confirmation: Look for rejection wicks or bullish candles forming inside the green buy zone to confirm the end of wave (4). Target: Prior swing resistance and your projected (5) area near 1.3490. Risk: If price closes below the stop area (under 1.3247), the 5‑wave bullish count is likely invalid and a deeper correction or reversal is in play. In short, it’s a clean impulsive Elliott count with a favorable R:R long, provided support holds and DXY doesn’t spike aggressively against GBP.