GBP/USD reached sell target 1.2600
- GBP/USD reached sell target 1.2600
- Next sell target - 1.2000
GBP/USD recently broke sharply below the support level 1.2600, which was set as the sell target in our earlier forecast for this currency pair. The breakout of this support level greatly accelerated the active minor impulse wave 3 - which belongs to the intermediate downward impulse wave (3) of the primary downward impulse ⑤ form the middle of July.
GBP/USD is expected to fall down further in the direction of the next sell target at the round support level 1.2000. Sell stop-loss can be placed at half the daily ATR (Average True Range) above the aforementioned price level 1.2600.