GBPUSD recently reversed down from the resistance area lying between the multi-month resistance level 1.3300 (former monthly high from last September) and the upper daily Bollinger Band.
The downward reversal from this resistance area started the active short-term impulse wave 1 of the medium-term impulse wave (1).
GBPUSD is expected to fall further and re-test the next round support level 1.3000 (low of the daily Hammer from February).
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