GBP/USD broke support zone

GBP/USD broke support zone

  • GBP/USD broke support zone
  • Next sell target - 1.2400

GBP/USD continues to fall after the earlier breakout of the support zone lying between the support level 1.2750 (which reversed earlier waves (iv) and 1, as can be seen from the daily GBP/USD chart below) and the 50-day moving average. The breakout of this support zone accelerated the active minor impulse wave 3, which belongs to the indeterminate impulse wave (C) from the middle of May. GBP/USD is expected to fall to the next sell target at the next support level 1.2400 (bottom of the pervious minor correction (ii) from April).



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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