GBPUSD Wave Analysis – 3 September, 2021

• GBPUSD broke resistance area

• Likely to rise to resistance level 1.3960

GBPUSD recently broke the resistance area lying between the resistance level 1.3800 (top of wave 1) and the 38.2% Fibonacci correction of the downward impulse (C) from May.

The breakout of this resistance area accelerated the active impulse waves 3 and (3).

GBPUSD can be expected to rise further toward the next strong resistance level 1.3960 (target for the completion of wave 3, which has been reversing the price from June).