GBP/NZD reversed from resistance zone Next sell target - 1…
GBP/USD reversed from support level 1.3300
- GBP/USD reversed from support level 1.3300
- Next buy target - 1.3500
GBP/USD continues to rise inside the minor impulse wave (iii), which previously reversed up from the support level 1.3300 (which is the former resistance level and the upper boundary of the sideways price channel inside which the pair has been trading from the start of October, as can be seen below). The active impulse wave 3 belongs to the intermediate impulse wave (3) from the middle of June. GBP/USD is expected to rise toward the next buy target at the next resistance level 1.3500.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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