GBPUSD Wave Analysis – 17 August, 2021

• GBPUSD broke support level 1.3800

• Likely to fall to support level 1.3565

GBPUSD currency pair recently broke the key support level 1.3800 (previous low of the minor impulse wave (i) from the middle of August).

The breakout of the support level 1.3800 continues the active impulse wave C of the intermediate ABC correction (2) from the end of July.

GBPUSD currency pair can be expected to fall further toward the next support level 1.3565 (previous monthly low from July and February).