Technical analysis

GBPUSD Wave Analysis – 21 June, 2021

• GBPUSD reversed from support zone

• Likely to rise to resistance level .3800

GBPUSD currency pair earlier reversed up from the support zone lying between the strong support level 1.3800 (former strong support from April) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous minor ABC retracement 2.

GBPUSD currency pair can then be expected to rise further toward the next resistance level 1.3950. Strong support remains at support level 1.3800.

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