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FX.co ★ GBP/USD 01.10.2020 - Watch fo bigger upside movement and completion of the ABC downside correction

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Forex Analysis:::2020-01-10T12:22:34

GBP/USD 01.10.2020 - Watch fo bigger upside movement and completion of the ABC downside correction

GBP has been trading upwards as I expected yesterday. The price tested the level of 1.3090. I still see more upside on the Gold and potential test of 1.3200 and 1.3280. The employment change that will happen in next hour might be key trigger for further development.

GBP/USD 01.10.2020 - Watch fo bigger upside movement and completion of the ABC downside correction

There is potential completion of the ABC downside correction and resume of the upward trend. My advice is to watch for buying opportunities on the dips using intraday-frames 5/15 minutes.

MACD oscillator is showing neutral stance and slow is is trying to turn bullish.

Resistance levels and upward targets are seen at the price of 1.3150 and 1.3200.

Support levels are set at the price of 1.3035 and at the price of 1.3000.

Analyst InstaForex
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