The short-term Elliott Wave outlook for GBPUSD suggests that the decline from the August 21 high is unfolding as a zigzag corrective structure. The initial leg lower, labeled wave A, completed at 1.314, as shown on the 1-hour chart. Following that low, the pair began a wave B recovery. This rally is expected to correct the decline from the August 21 peak before the broader bearish sequence resumes. Wave B is taking shape as another zigzag pattern of a lesser degree. From the wave A low, wave (i) advanced to 1.3276 before a pullback in wave (ii) ended at 1.323. The pair then resumed higher in wave (iii), reaching 1.337. A subsequent correction in wave (iv) found support at 1.3298. From there, the final push higher in wave (v) extended to 1.3419, completing wave ((a)) of the larger-degree wa