Technical analysis

GBPUSD Wave Analysis – 31 December, 2021

GBPUSD Wave Analysis – 31 December, 2021

• GBPUSD reversed from resistance level 1.3500

• Likely to fall to support level 1.3375

GBPUSD currency pair recently reversed down from the key resistance level 1.3500 (which stopped the previous corrective wave (iv) in the middle of November).

The resistance zone near the resistance level 1.3500 was strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the downward impulse C from October.

GBPUSD currency pair can be expected to fall further toward the next support level 1.3375 (former resistance from the middle of December).

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