Categories: Technical analysis

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).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPUSD

Recent Posts

USDCHF Wave Analysis 24 September 2024

- USDCHF reversed from resistance area - Likely to fall to support level 0.8400 USDCHF…

3 hours ago

Services sector underpins US economy amid manufacturing slowdown

The US manufacturing PMI fell to 47.0 in September. The services sector remains a solid…

10 hours ago

China’s stimulus boosts yuan and shares

China announced a cut in key interest rates and reserve ratios, freeing up 1 trillion…

11 hours ago

Bitcoin keeps at heights, Litecoin pushes back from resistance

Bitcoin is showing a moderate trend with intraday fluctuations as it continues to fight for…

15 hours ago

Natural Gas Wave Analysis 23 September 2024

- Natural Gas rising inside impulse waves 3 and (3) - Likely to reach resistance…

1 day ago

EURGBP Wave Analysis 23 September 2024

- EURGBP broke the support area - Likely to fall to support level 0.8300 EURGBP…

1 day ago

This website uses cookies