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).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpusd-wave-analysis-14-september-2020-20200914/
Selected by fonecable.com
- Australian Dollar Forecast: Major AUD/NZD Bottom May Soon Be Approaching
- British Pound Slips After Data, Still Tied to Range. Can GBP/USD Break Out Ahead of FOMC?
- How to Research Stocks: A Step by Step Guide
- Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally
- New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses