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GBP/USD reversed from support area

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  • GBP/USD reversed from support area
  • Next buy target - 1.3100

GBP/USD recently reversed up from the support area located between the support level 1.2960 (former resistance level which stopped the previous minor correction (b) at the start of July, as can be seen below) and the 38.2% Fibonacci correction of the previous sharp upward impulse from the middle of June. GBP/USD is expected to rise to the next buy target at the next resistance level 1.3100 (which reversed the price sharply earlier this month).

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