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GBPUSD Wave Analysis – 12 March, 2019

  • GBPUSD broke the support area
  • Likely to fall to 1.2500

GBPUSD recently broke the support area lying between the support level 1.2775 (which reversed the price in November and February) and the 50% Fibonacci correction of the previous weekly ABC correction from last September.

The breakout of the aforementioned support area accelerated the active downward impulse w3aves 3 and (3).

With the strong bearish Sterling sentiment seen today – GBPUSD is likely to fall further toward the next round support level 1.2500 (forecast price for the completion of the impulse wave 3).

GBPUSD is likely to fall further toward the next round support level 1.2500


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