• GBPUSD broke resistance zone
• Likely to rise to resistance level 1.4235
GBPUSD currency pair recently broke sharply above the resistance zone lying between the round resistance level 1.4000 (which has been repeatedly reversing the price from the start of March, as can be seen from the daily GBPUSD chart below) and the 61.8% Fibonacci correction of the previous downward correction from the end of February. The breakout of this resistance zone accelerated the active medium-term impulse wave (3).
Given the strong daily uptrend and the strengthening bullish sterling sentiment seen today – GBPUSD currency can be expected to rise further toward the next resistance level 1.4235 (former multi-month high from the end of February).
