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GBP/USD broke key resistance level 1.3110

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  • GBP/USD broke key resistance level 1.3110
  • Next buy target - 1.3300

GBP/USD has been rising steadily inside the minor impulse wave 3, which earlier broke above the key resistance level 1.3110 (which stopped the previous minor impulse wave (i) in the middle of July). The breakout of this resistance level accelerated the active minor impulse 3, which belongs to the primary ABC correction ④ from the middle of January. GBP/USD can be expected to rise toward the next buy target at the next resistance level 1.3300 (target price for the completion of the active impulse 3).

GBPUSD - Primary Analysis - Jul-31 2128 PM (1 day).png

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