GBP/USD broke resistance area

GBP/USD broke resistance area

  • GBP/USD broke resistance area
  • Next buy target - 1.4000

GBP/USD recently broke through the resistance area lying between the resistance levels 1.3550 (top of the previous minor impulse wave 1) and 1.3670 (which stopped the previous impulse wave (1) in September). The breakout of this resistance area accelerated the active impulse waves 3 and (iii). GBP/USD is expected to rise to the next buy target at the next resistance level 1.4000 (intersecting with the resistance trendline of the daily up channel from June).

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