GBPUSD Wave Analysis – 9 July, 2020

• GBPUSD rising inside wave 2

• Likely to reach 1.2760

GBPUSD continues to rise inside the minor correction 2, which recently broke above the key resistance level 1.2535 – intersecting with the 50% Fibonacci correction of the previous downward impulse 1.

The active wave 2 belongs to the longer term downward impulse sequence (3) from the middle of June.

GBPUSD is likely to rise further toward the next resistance level 1.2760 (which stopped the previous intermediate correction (2)).