Categories: Technical analysis

GBPUSD Wave Analysis 13 October, 2020

• GBPUSD reversed from resistance area

• Likely to fall 1.2845

GBPUSD recently reversed down from the resistance area lying between the resistance level 1.3075, upper daily Bollinger band and the 50% Fibonacci correction of the downward impulse (1) from August.

The downward reversal from this resistance area stopped the previous medium-term ABC correction (2).

GBPUSD is likely to fall further toward the next support level 1.2845 (low of the previous minor corrective wave B from the start of October).

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.

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Tags: GBPUSD

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