GBPUSD Wave Analysis 9 September 2024

– GBPUSD reversed from strong resistance level 1.3230

– Likely to fall to support level 1.3000

GBPUSD currency pair recently reversed down from the strong resistance level 1.3230 (former strong support from the end of 2021).

The resistance level 1.3230 was strengthened by the upper daily Bollinger Band and by the resistance trendline of the daily up channel from May.

Given the strength of the resistance level 1.3230 and the overbought daily Stochastic, GBPUSD currency pair can fall further to the next round support level 1.3000.