• GBPUSD broke support level 1.2175
• Likely to fall to support level 1.1945
GBPUSD currency was under bearish pressure after the pair broke the support level 1.2175 (which stopped wave 3 in the middle of 2022).
The breakout of the support level 1.2175 accelerates the active impulse wave 5 of the intermediate impulse wave (3) from the start of January.
Given the clear daily downtrend, GBPUSD can be expected to fall further toward the next support level 1.1945 (target for the completion of the active impulse wave 5).
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