Technical analysis

GBPUSD Wave Analysis – 10 June, 2021

• GBPUSD reversed from support zone

• Likely to rise to resistance level 1.4200

GBPUSD currency pair recently reversed up from the support zone lying between the pivotal support level 1.4100 (which has been reversing the price from the middle of May) and the lower daily Bollinger Band.

This support zone was further strengthened by the support trendline of the wide weekly up channel rom 2020.

GBPUSD can then be expected to rise further toward the next resistance level 1.4200 (target price for the completion of the active correction (b)).

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