- GBPUSD reversed from resistance area
- Likely to fall to support level 172.95
GBPUSD currency pair earlier reversed down from the resistance area located between the key resistance level 1.3060 (which stopped the multi-month uptrend in July) and the upper weekly Bollinger Band.
The downward reversal from this resistance area stopped the previous weekly impulse wave of the longer-term upward impulse wave (C).
Given the overbought daily Stochastic, GBPUSD currency pair can be expected to fall further to the next support level 172.95.
 and the upper weekly Bollinger Band.){kind=link}