Technical analysis

GBPUSD Wave Analysis 21 October, 2020

GBPUSD Wave Analysis 21 October, 2020

• GBPUSD rising inside impulse wave C

• Likely to reach 1.3270

GBPUSD continues to rise inside the short-term impulse wave C, which previously broke the key resistance level 1.3075 (top of the earlier corrective wave A from the start of October).

The breakout of the resistance level 1.3075 coincided with the breakout of the 50% Fibonacci correction of the downward impulse (1) from.                       

GBPUSD is likely to rise further toward the next resistance level 1.3270 (projected price for the completion of the active impulse wave C).

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