GBPUSD Wave Analysis 21 August 2024

– GBPUSD broke key resistance level 1.3040

– Likely to reach resistance level 1.3200

GBPUSD currency pair recently broke above the key resistance level 1.3040 (previous monthly high from the middle of July).

The breakout of the resistance level 1.3040 accelerated the active short-term impulse wave 3 of the higher order impulse wave (C) from the end of April.

Given the clear daily uptrend and the continuation of the widespread US dollar sales, GBPUSD currency pair can be expected to rise further toward the next resistance level 1.3200 (target for the completion of the active impulse wave (C)).