Market Snapshots

GBPUSD Wave Analysis 13 October, 2020

GBPUSD Wave Analysis 13 October, 2020

• GBPUSD reversed from resistance area

• Likely to fall 1.2845

GBPUSD recently reversed down from the resistance area lying between the resistance level 1.3075, upper daily Bollinger band and the 50% Fibonacci correction of the downward impulse (1) from August.

The downward reversal from this resistance area stopped the previous medium-term ABC correction (2).

GBPUSD is likely to fall further toward the next support level 1.2845 (low of the previous minor corrective wave B from the start of October).

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