GBP/USD reversed from support zone

GBP/USD reversed from support zone

  • GBP/USD reversed from support zone
  • Next buy target - 1.4340

GBP/USD recently reversed up with the daily Japanese candlesticks reversal pattern Bullish Engulfing from the support area lying between the round support level 1.4000 and the upper trendline of the recently broke wide daily up channel from August (acting as support after it was broken). GBP/USD is expected to rise further toward the next buy target at the next resistance level 1.4340 (top of the previous impulse wave (iii)).

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