Categories: Technical analysis

Sterling Wave Analysis – 10 June, 2022

• Sterling broke pivotal support level 1.2435
• Likely to fall to support level 1.2230

Sterling just broke below the pivotal support level 1.2435 (which has been reversing the price from the start of April).

The breakout of the support level 1.2435 continues the strong downtrend that can be seen on the daily GBPUSD charts.

GBPUSD can be expected to fall further toward the next support level 1.2230 (forecast price for the completion of the active impulse wave 3).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: GBPUSD

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