GBPUSD Wave Analysis – 18 June, 2020

• GBPUSD under bearish pressure

• Likely to fall to 1.2330

GBPUSD under bearish pressure after the recent breakout of the support level 1.2470 (which reversed the price earlier this month). .

The breakout of the support level 1.2470 continues the active medium-term impulse sequence (3) from the start of June. Given the predominantly bearish pound sentiment – GBPUSD is likely to fall further toward the next support level 1.2330 (former minor resistance from the end of May).