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– GBPUSD broke resistance zone
– Likely to rise to resistance level 1.2555
GBPUSD currency pair recently broke the resistance zone lying at the intersection of the resistance level 1.2365, resistance trendline of the daily down channel from October and the 38.2% Fibonacci correction of the downward impulse from December.
The breakout of this resistance zone accelerated the active C-wave of the ABC correction (2) from the start of January.
GBPUSD can be expected to rise to the next resistance level 1.2555 (target price for the completion of the active ABC correction (2)).
Source: https://fxpro.news
