GBPUSD Wave Analysis – 31 January 2025
- GBPUSD reversed from the key resistance level 1.2500
- Likely to fall to support level at 1.2300
The GBPUSD currency pair recently reversed down from the key resistance level 1.2500 (the former monthly low from November, which is acting as resistance now after being broken previously).
The resistance level 1.2500 was strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the earlier downward impulse from the start of December.
GBPUSD currency pair can be expected to fall further toward the next support level at 1.2300 (the target price for the completion of the active minor correction B).
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.
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.