Categories: Technical analysis

GBPUSD Wave Analysis 12 July 2024

– GBPUSD under bullish pressure

– Likely to rise to resistance level 1.3120

GBPUSD currency pair is under bullish pressure after the earlier breakout of the resistance level 1.2850, which has been reversing the pair from 2023.

The breakout of the resistance level 1.2850 results from the simultaneously strongly bullish sterling sentiment and the equally weak USD sentiment.

GBPUSD can be expected to rise further to the next round resistance level 1.3120 (former multi-month high from the middle of 2023).

AddThis Website Tools
The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPUSD

Recent Posts

Pfizer Wave Analysis – 27 March 2025

Pfizer: ⬇️ Sell - Pfizer broke support level 25.20 - Likely to fall to support level…

9 minutes ago

Silver Wave Analysis – 27 March 2025

Silver: ⬆️ Buy - Silver broke resistance area - Likely to rise to resistance level…

10 minutes ago

EURGBP Wave Analysis – 27 March 2025

EURGBP: ⬇️ Sell - EURGBP broke support area - Likely to fall to support level…

5 hours ago

3M Wave Analysis – 27 March 2025

3M: ⬇️ Sell - 3M reversed from resistance area - Likely to fall to support…

5 hours ago

Smashed Hopes for US Stocks Recovery

The US stock market faced resistance from new auto tariffs and concerns about global response,…

7 hours ago

Gold and Silver about to break the ceiling

Gold has experienced growth, reaching historical highs due to new tariff wars. Silver has also…

9 hours ago