GBPUSD Wave Analysis

  • GBPUSD reversed from support level 1.2535
  • Likely to rise to resistance level 1.2700

GBPUSD currency pair recently reversed up from the key support level 1.2535, which has been steadily reversing the price from the start of December.

The support level 1.2535, was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the upward impulse from October.

Given the strength of the support level 1.2535, GBPUSD currency pair can be expected to rise to the next resistance level 1.2700 (which stopped the previous correction (2)).

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