• GBPUSD reversed from key support level 1.2335
• Likely to rise to resistance level 1.2530
GBPUSD currency pair recently reversed up from the key support level 1.2335 (which stopped the previous corrections 2 and (ii)).
The support level 1.2335 was strengthened by the 20-day moving average and by the 38.2% Fibonacci correction of the upward impulse from March.
Given the clear daily uptrend and strong dollar sales, GBPUSD can be expected to rise further toward the next resistance level 1.2530.
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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