GBPUSD Wave Analysis – 16 February, 2022

• GBPUSD reversed from support zone

• Likely to rise to resistance level 1.3645

GBPUSD recently reversed up from the support area set between the pivotal support level 1.3500 (which has been reversing the price from the start of February) and the 50% Fibonacci correction of the previous upward correction from January.

The upward reversal from this support zone stopped the earlier intermediate impulse wave (3).

GBPUSD can be expected to rise further toward the next key resistance level 1.3645 (top of the previous waves 2 and (2)).