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 from the support area lying between the support level 1.3300 (former resistance level and the upper boundary of the sideways price range inside which the pair has been trading from the start of October) and 50% Fibonacci correction of the previous sharp upward impulse wave form the start of November. GBP/USD is expected to rise to the next buy target at the next resistance level 1.3550 (top of the previous impulse wave (iii)).

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