GBPUSD 30M Elliott Wave Bearish Reversal SetupBritish Pound/US DollarFX:GBPUSDBitcoinprofitableOn the GBPUSD 30-minute chart, the market structure shows a completed five-wave impulsive move to the upside, signaling the end of a bullish phase. Waves 1 through 5 are clearly defined, with wave 3 extending strongly and wave 5 forming near a resistance trendline, suggesting exhaustion. The presence of a corrective ABC structure earlier in the chart indicates that the market has already gone through accumulation and expansion phases, and is now likely entering a new corrective cycle. The final push into wave 5 appears to be weakening, with smaller candles and rejection near the upper boundary. This behavior often signals a potential reversal or at least a deeper correction. The projected path suggests a bearish move forming an ABC correction downward, with the first leg already starting to develop. Additionally, confluence from trendline resistance and prior structure highs strengthens the bearish bias. Traders should be cautious of false breakouts and look for confirmation before entering positions. Overall, the Elliott Wave count favors a shift from bullish momentum into a corrective bearish phase, offering short-term selling opportunities within a structured pullback scenario. Entry & Exit Points: Entry (Sell): After confirmation of bearish candle below wave 5 high Alternative Entry: Break of minor support (start of wave A) Stop Loss: Above wave 5 peak Take Profit 1: Previous support zone (wave 4 area) Take Profit 2: Deeper correction near wave A/B structure