GBPUSD recently reversed up from the support area lying between the multi-month support level 1.24000 (which stopped the earlier downtrend in January) and the lower daily Bollinger Band.
The upward reversal from this support area stopped the previous impulse waves 3 and (3).
Given the oversold reading on the daily Stochastic indicator GBPUSD is expected to rise further and retest the next resistance level 1.2500.
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
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- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
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