Categories: Technical analysis

GBPUSD Wave Analysis – 14 September, 2020

• GBPUSD reversed from support level 1.2800

• Likely to rise to 1.3000

GBPUSD recently reversed up from the support level 1.2800 (former strong resistance from June) – standing near the lower daily Bollinger Band.

The support zone near the support level 1.2800 was strengthened by the 50% Fibonacci retracement of the previous upward impulse from May.

GBPUSD is likely to rise further toward the next round resistance level 1.3000 (former strong support from the start of August).

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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