GBP/USD reversed from resistance zone
- GBP/USD reversed from resistance zone
- Next sell target - 1.3000
GBP/USD continues to fall inside the minor impulse wave 3 – which started earlier – when the pair reversed down from the resistance zone lying between the resistance level 1.3400 (which also earlier reversed the price sharply in June) and the 38.2% Fibonacci correction of the previous sharp downward impulse from the middle of June. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Dark Cloud Cover.
GBP/USD is likely to fall further in the active impulse waves (3) and 3 toward the next sell target at the round support level 1.3000.