GBPUSD Wave Analysis – 14 September, 2020

• GBPUSD reversed from support level 1.2800

• Likely to rise to 1.3000

GBPUSD recently reversed up from the support level 1.2800 (former strong resistance from June) – standing near the lower daily Bollinger Band.

The support zone near the support level 1.2800 was strengthened by the 50% Fibonacci retracement of the previous upward impulse from May.

GBPUSD is likely to rise further toward the next round resistance level 1.3000 (former strong support from the start of August).