• GBPUSD reversed from support area
• Likely to rise to resistance level 1.4245
GBPUSD currency pair previously reversed up from the support area lying between the support level 1.4095 and the 38.2% Fibonacci correction of the upward impulse from the start of May.
The upward reversal form this support area started active minor impulse wave (iii) – which belongs to the higher order impulse waves 3 and (3)..
GBPUSD currency pair can then be expected to rise further toward the next resistance level 1.4245 (which stopped the sharp uptrend in February).