GBP/USD reversed from support zone

GBP/USD reversed from support zone

  • GBP/USD reversed from support zone
  • Next buy target - 1.4200

GBP/USD previously reversed up from the support zone lying between the strong support level 1.3800, lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse from the middle of December. The upward reversal from this support zone started the active minor impulse wave 3. GBP/USD is expected to rise further toward the next buy target at the next resistance level 1.4200 (resistance trendline of the daily up channel from August).

gbp

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