FBS - Analytics

    FBS

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    GBP/USD corrected from round support level 1.4000

    GBP/USD recently corrected up sharply from the support zone near the round support level 1.4000 (which stopped the (B)-wave of the previous primary ABC correction ② from the end of February and which was set as the sell target in our previous forecast for this currency pair). The upward reversal from this support zone stopped the earlier impulse waves 3 and (3) – which belongs to the primary impulse wave ③ from the start of May.

    GBP/USD is likely to rise further to the next buy target at the nearby resistance level 1.4350 (former strong support level which reversed earlier waves (1) and 1).


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