GBPUSD currency pair can be expected to rise further toward the next round resistance level 1.3000.
– GBPUSD reversed from support area
– Likely to rise to resistance level 1.3000
GBPUSD currency pair recently reversed up from the combined support area located at the intersection of the following support levels: the support level 1.2700, lower daily Bollinger Band, 50% Fibonacci correction of the upward impulse from the middle of April and the support trendline of the daily up channel from the start of May. The downward reversal from this support zone continues the active intermediate impulse wave (C) from the end of April.
Given the clear daily uptrend and the bullish sterling sentiment seen across the FX markets today, GBPUSD currency pair can be expected to rise further toward the next round resistance level 1.3000 (which stopped the previous sharp impulse wave 3 in the middle of July).
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