GBPUSD Wave Analysis – 30 March 2023

• GBPUSD broke resistance level 1.22664

• Likely to rise to resistance level 1.2440

GBPUSD rising after the pair broke above the resistance level 1.22664 (top of the previous correction 2 from the middle of February).

The breakout of the resistance level 1.22664 continues the active short-term impulse wave C, which belongs to the intermediate ABC correction (2) from the start of March.

Given the strong uptrend and the widespread dollar sales, GBPUSD currency pair can then be expected to rise further toward the next resistance level 1.2440 (monthly high from December and January and the target price for the completion of the active impulse wave C).