GBPUSD Wave Analysis – 17 June 2025

GBPUSD: ⬇️ Sell

– GBPUSD reversed from the resistance level 1.3615

– Likely to fall to support level at 1.3400

GBPUSD currency pair recently reversed down from the key resistance level 1.3615 (which has been reversing the price from the end of May) and the upper daily Bollinger Band.

The downward reversal from the resistance level 1.3615 formed the daily Japanese candlesticks reversal pattern Dark Cloud Cover – which was followed by the Shooting Star.

Given the bearish divergence on the daily Stochastic indicator, GBPUSD currency pair can be expected to fall to the next support level at 1.3400 (former resistance from April).