Technical analysis

GBPUSD Wave Analysis 23 November, 2020

GBPUSD Wave Analysis 23 November, 2020

• GBPUSD broke key resistance level 1.3300

• Likely to rise to 1.3480

GBPUSD recently broke sharply through the key resistance level 1.3300 (which stopped the previous sharp upward impulse wave (i) at the start of this month).

The breakout of the resistance level 1.3300 accelerated the active minor impulse wave C of the medium-term ABC correction (2) from September.

GBPUSD is likely to rise further toward the next powerful resistance level 1.3480 (multi-month resistance level from the end of 2019 and the target price for the completion of the active corrective wave 2.).

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