GBPUSD Wave Analysis –- 29 July, 2020

• GBPUSD rising inside accelerated impulse wave C

• Likely to reach 1,3200

GBPUSD continues to rise inside the accelerated impulse wave C – which earlier broke above the resistance level 1.2800 (top of the previous daily correction A from June).

The active impulse wave C belongs to the medium-term ABC correction (2) from the middle of March.

GBPUSD is likely to rise further toward the next powerful resistance level 1,3200 (monthly high from January and March/target for the termination of the active impulse wave C).