Monday, 26 August 2019 05:57 GMT
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GBPUSD Wave Analysis 17 July, 2019




(MENAFN - FxPro)

  • GBPUSD reversed from support area

  • Further gains are likely

GBPUSD recently reversed up from the support area lying between the multi-month support level 1.24000 (which stopped the earlier downtrend in January) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous impulse waves 3 and (3).

Given the oversold reading on the daily Stochastic indicator GBPUSD is expected to rise further and retest the next resistance level 1.2500.

MENAFN1807201901560000ID1098772575


GBPUSD Wave Analysis 17 July, 2019

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