Technical analysis

GBPUSD Wave Analysis – 29 July, 2021

• GBPUSD broke resistance zone

• Likely to rise to resistance level 1.4000

GBPUSD currency pair recently broke the resistance zone lying between the resistance level 1.3900 (top of the previous waves (a) and (iv)) and the 50% Fibonacci correction of the downward impulse from May.

The breakout of this resistance zone accelerated the active intermediate impulse wave (3).

GBPUSD currency pair can be expected to rise further toward the next resistance level 1.4000 (former minor reversal pivot from the end of June).

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