Market Snapshots

GBPUSD Wave Analysis – 10 March, 2020

GBPUSD Wave Analysis – 10 March, 2020
  • GBPUSD reversed from resistance area
  • Likely to fall to 1.3000

GBPUSD recently reversed down from the resistance area lying between the key resistance level 1.3200 (which has been reversing the price from January) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star.

GBPUSD is likely to fall further toward the next round support level 1.3000 (former resistance level from the end of February).

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