GBPUSD Wave Analysis 21 January, 2021

• GBPUSD broke above the resistance level 1.3700

• Likely to rise to 1.3800

GBPUSD recently broke above the resistance level 1.3700 (which has been repeatedly reversing this currency pair from the end of December).

The breakout of the resistance level 1.3700 should accelerate the active impulse waves 5 and (C).

GBPUSD is expected to rise further toward the next resistance level 1.3800. Strong support now stands at the aforementioned price level 1.3700