GBPUSD Wave Analysis 20 April, 2021
April 20, 2021 @ 18:11 +03:00
• GBPUSD reversed from resistance level 1.400
• Likely to fall to support level 1.3900
GBPUSD recently reversed down from the key resistance level 1.4000 (which has been steadily reversing the pair for the last few trading weekly) – standing outside of the upper daily Bollinger Band.
The downward reversal from the resistance level 1.2475 stopped the previous intermediate impulse wave (3).
Given the overbought daily Stochastic – GBPUSD is likely to fall further toward the next support level 1.3900 (former resistance from the start of April).