GBP/USD reversed from support area

GBP/USD reversed from support area

  • GBP/USD reversed from support area
  • Next buy target - 1.3550

GBP/USD today reversed up strongly from the support area lying between the support level 1.3310 (former upper boundary of the sideways price channel from October) and the 50% Fibonacci correction of the previous sharp upward impulse 1 from the start of November. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star. GBP/USD is expected to rise to the next buy target at the next resistance level 1.3550 (top of the impulse wave 1).

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