GBPUSD Wave Analysis – 23 January, 2019

GBPUSD broke resistance area
Further gains are likely

GBPUSD recently broke though the resistance area located between the round resistance level 1.3000 and the resistance trendline of the daily down channel from September.

The breakout of this resistance area accelerated the active short-term upward ABC correction 2 from the start of January.

GBPUSD is expected to rise further and re-test the next key resistance at 1.3200 (which reversed the price twice in the middle of September).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: GBPUSD

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