• GBPUSD reversed from support zone
• Likely to rise to resistance level 1.4200
GBPUSD currency pair recently reversed up from the support zone lying between the support level 1.4085 (which has been reversing the price from the end of May), lower daily Bollinger Band and the support trendline of the daily up channel from April. The upward reversal from this support zone is aligned with the clear daily uptrend inside which GBPUSD currency pair has been moving from last year.
With the improving sterling sentiment seen across the FX markets today – GBPUSD currency pair can be expected to rise further toward the next resistance level 1.4200 (target price for the completion of the active wave B).
