GBPUSD Wave Analysis – 16 April 2025

GBPUSD: ⬆️ Buy

– GBPUSD broke key resistance level 1.3200

– Likely to rise to the resistance level 1.3400

GBPUSD currency pair is rising sharply after the recent breakout of the key resistance level 1.3200, which stopped the previous minor impulse wave A at the start of April.

The breakout of the resistance level 1.3200 accelerated the active impulse waves i and C – which belong to wave (B) from January.

Given the bearish US dollar sentiment seen today coupled with sterling optimism, GBPUSD currency pair can be expected to rise to the next resistance level 1.3400 (target price for the completion of the active wave C).