GBPUSD Wave Analysis – 10 August, 2020

• GBPUSD reversed from support level 1.3000

• Likely to rise to 1.3200

GBPUSD recently reversed up from the minor support level 1.3000 (low of the previous correction (a) from the start of August).

The upwards reversal from the support level 1.3000 stopped the previous short-term ABC correction 4 from the end of June.

Given the strong daily uptrend – GBPUSD is likely to rise further toward the next resistance level 1.3200 (top of the previous waves 3 and (b)).