A Triangle Before the Final Move Higher?

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A Triangle Before the Final Move Higher?Great British Pound vs. US DollarFX:GBPUSDRoman_Pavelko_EWAGBPUSD appears to be forming a contracting triangle in wave (b), within wave of the larger wave C advance. Wave e may now be approaching completion. In Elliott Wave analysis, a triangle typically acts as a continuation pattern and often occupies the next-to-last position within a larger structure. It represents a pause before the final wave of that structure unfolds. In this count, the triangle forms wave (b) of the (a)–(b)–(c) zigzag. Once it is complete, I expect an upward move in wave (c), potentially completing waves and C at higher degrees. The projected area is around 1.44–1.45, as illustrated on the chart. For now, the focus is on the completion of wave e. A break above the upper triangle boundary would support the bullish scenario. Until then, further fluctuations within the triangle remain possible.