FBS - Analytics


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    GBP/USD reached buy target 1.4750

    GBP/USD continues to rise – following the earlier breakout of the resistance level 1.4750, which is the upper boundary of the strong resistance zone which has been reversing the pair from the start of February and the buy target set in our previous forecast for this currency pair. The breakout of this resistance level 1.4750 is likely to accelerate the active C-wave of the intermediate ABC correction (2) from the start of March.

    GBP/USD is likely to rise further to the next buy target at the round resistance level 1.5000. Strong support now stands between the recently broken price levels 1.4750 and 1.4650.

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