GBPUSD TECHNICAL ANALYSIS SOME TARGET WIN British Pound/US DollarFX:GBPUSDDavidHills110This chart is a GBP/USD (British Pound to US Dollar) 1-hour analysis on FXCM, published on TradingView. Here’s what it indicates: Key Analysis 1. Elliott Wave Theory Applied The chart follows an Elliott Wave pattern, showing a completed five-wave structure at the top. After reaching a peak near 1.26693, the price started a corrective wave down. 2. Bearish Rejection from Resistance The red zone (1.26693 level) represents a strong resistance area where sellers stepped in. The black and blue arrows indicate expected price movement downward. 3. Support and Target Levels Short-term support at 1.26305, already being tested. Major target around 1.25837, which is marked as a potential support zone. Conclusion The chart suggests a bearish outlook for GBP/USD, with an expected drop towards 1.25837, unless buyers regain control at current support levels. If the price stays below 1.26693, further downside is likely.