GBPUSD Wave Analysis

  • GBPUSD rising inside minor correction 2
  • Likely to rise to resistance level 1.2700

GBPUSD currency pair continues to rise inside the minor correction 2, which started earlier, when the pair reverse dup with the daily Morning Star form the key support level 1.2335.

The active wave 2 belongs to the intermediate downward impulse wave (C) from the start of April

Give the strongly bullish sterling sentiment, GBPUSD air can be expected to break the daily down channel from March and to rise further to the next resistance level 1.2700 (top of wave (B)).

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