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September 14, 2020 at 03:36PM

• 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).

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

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