GBPUSD Wave Analysis 24 September 2024

– GBPUSD broke resistance area

– Likely to rise to resistance level 1.3500

GBPUSD recently broke the resistance area located at the intersection of the key resistance level 1.3255 (former monthly high from August) and the resistance trendline of the daily up channel from April.

The breakout of this resistance area accelerated the active impulse waves iii and 3  – which belong to the multi-month upward impulse sequence (C) from April.

Given the clear daily uptrend and the strongly bearish US dollar sentiment, GBPUSD can be expected to rise further to the next resistance level 1.3500, target for the completion of wave (C).