Given the continuation of the strongly bullish sterling euro sentiment across the FX markets today, GBPUSD currency pair can be expected to rise to the next resistance level 1.3430, former multi-month high from September.
- GBPUSD broke resistance area
- Likely to rise to resistance level 1.3430
GBPUSD currency pair recently broke the resistance area located between the resistance level 1.3200 (which stopped the previous impulse wave 5 at the start of April, as can be seen from the daily GBPUSD chart below) and the resistance trendline of the daily up channel from the start of February. The breakout of this resistance area accelerated the active short-term impulse wave 1, which belongs to the extended impulse wave (3) from the middle of January.
Given the continuation of the strongly bullish sterling euro sentiment across the FX markets today, GBPUSD currency pair can be expected to rise to the next resistance level 1.3430, former multi-month high from September.
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