GBPUSD Wave Analysis – 14 August, 2020

• GBPUSD reversed from round support level 1.3000

• Likely to rise to 1.3200

GBPUSD recently reversed up from the round support level 1,3000 (which reversed the price multiple times from the start of August, as can be seen below).

The upward reversal from the support level 1,3000 continues the active short-term impulse wave 5 of the (C)-wave from June.

GBPUSD is likely to rise further toward the next resistance level 1.3200 (which stopped the previous sharp impulse wave 3).