GBPUSD Wave Analysis 10 January 2025
- GBPUSD broke key support level 1.2300
- Likely to fall to support level 1.2100
GBPUSD currency pair recently broke the key support level 1.2300 (former multi-month low from April of 2024, as can be seen below from the daily GBPUSD chart below).
The breakout of the support level 1.2300 accelerated the active medium-term impulse wave (3).
Given the medium-term downtrend on the daily charts, GBPUSD currency pair can be expected to fall toward the next support level 1.2100 (former major support from the end of 2023).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.