GBPUSD Wave Analysis – 14 September, 2020

GBPUSD Wave Analysis – 14 September, 2020

September 14, 2020 at 03:36PM

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• GBPUSD reversed from support level 1.2800

• Likely to rise to 1.3000

GBPUSD recently reversed up from the support level 1.2800 (former strong resistance from June) – standing near the lower daily Bollinger Band.

The support zone near the support level 1.2800 was strengthened by the 50% Fibonacci retracement of the previous upward impulse from May.

GBPUSD is likely to rise further toward the next round resistance level 1.3000 (former strong support from the start of August).

From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpusd-wave-analysis-14-september-2020-20200914/
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