GBP/USD: sell target – 1.5100
By: Dima Chernovolov
- GBP/USD approaches sell target 1.5200
- Next sell target – 1.5100
GBP/USD has been falling in the last few trading sessions in accordance with our previous forecast for this currency pair. The price earlier broke the support trendline of the daily up channel from the middle of April (which has enclosed the previous primary ABC correction②). The breakout of this up channel accelerated the active impulse wave (3). The price is currently approaching the support level 1.5200, which was set as the sell target in our previous report for this pair.
If GBP/USD breaks the support level 1.5200, the pair can then fall to the next sell target 1.5100 (target price calculated for the completion of the active impulse (3)).