Technical analysis

GBPUSD Wave Analysis 29 May 2024

– GBPUSD reversed from resistance level 1.2800

– Likely to fall to support level 1.2675

GBPUSD currency pair recently reversed down from the key resistance level 1.2800, which has been repeatedly reversing the price from December.

The downward reversal from the resistance level 1.2800 is likely to form the daily Japanese candlesticks reversal pattern Evening Star Doji.

Given the strength of the resistance level 1.2800, GBPUSD currency pair can be expected to fall further to the next support level 1.2675 (low of the previous correction ii).

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