# GBP/USD coils into a triangle

> A four-hour triangle on cable is closing in on its final wave, and the thrust out of it could be big.
- Title: GBP/USD coils into a triangle · TradingView | Shortify
- Summary: A four-hour triangle on cable is closing in on its final wave, and the thrust out of it could be big. If Wave E stalls near 1.3345, the triangle's measured…
- Keywords: forex, gbpusd, elliott wave, technical analysis, chart patterns, business, finance, GBP, USD, coils, triangle, TradingView
- Source: TradingView — https://tradingview.com/chart/GBPUSD/LcLJLQO2-GBP-USD-Is-a-Contracting-Triangle-Nearing-Completion
- Published: 2026-09-15T18:59:54+00:00
- Read time: 1 min
- Topics: forex, gbpusd, elliott wave, technical analysis, chart patterns, business, finance
## Cable is squeezing tighter
GBP/USD is tracing a contracting, symmetrical-looking triangle on the 4-hour chart. Price keeps making lower highs and higher lows inside converging lines.

> GBPUSD appears to be forming a contracting, symmetrical-looking triangle on the 4-hour chart.
## Four waves down, one to go
The count reads A at 1.3010, B at 1.3870, C at 1.3140, D at 1.3676, with Wave E still unfolding. Four legs are set, the fifth is live.

> The pattern currently shows a possible A-B-C-D-E structure, with Wave E still developing.
## The trendlines confirm it
A-C and B-D both converge, which is what makes this a contracting triangle rather than a random range. The lines are the pattern, not the labels.

> The converging A-C and B-D trendlines support the contracting-triangle view.
## Wave E has a hard limit
Under the rules, Wave E cannot push past where Wave C ended at 1.3140. It can also stop short of the A-C line, so an early turn is fair game.

> Wave E cannot move beyond the end of Wave C, although it can finish before reaching the A-C trendline.
## 1.3345 is the level to watch
The 0.618 retracement puts the Wave E target at 1.3345. That is where the setup either completes or starts falling apart.

> Wave E target: 1.3345 [0.618]
## The thrust cuts both ways
Triangle height is 0.0860, from 1.3870 down to 1.3010. Added to 1.3345 that projects 1.4205 on the upside; subtracted, it points to 1.2485.

> 1.3345 + 0.0860 = 1.4205
## Key takeaway

If Wave E stalls near 1.3345, the triangle's measured thrust points at 1.4200; a break the other way puts 1.2485 on the table.