GBPUSD Wave Analysis – 4 February 2026

GBPUSD: ⬆️ Buy

– GBPUSD reversed from support area

– Likely to rise to resistance level 1.3850

GBPUSD currency pair recently reversed up from the support area located between the key support level 1.3650 (former resistance from September) and the 38.2% Fibonacci correction of the previous sharp upward impulse from January.

The upward reversal from this support area created the daily Japanese candlesticks reversal patterns Bullish Engulfing.

Given the bearish US dollar sentiment seen today, GBPUSD currency pair can be expected to rise toward the next resistance level 1.3850.

Source: https://fxpro.news