LeoPrime Daily Market Analysis

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GBPUSD broke key resistance level 1.33000; Likely to rise to 1.35000

GBPUSD continues to rise strongly after the pair broke above the key resistance level 1.33000 (which has been reversing this currency pair from the start of November). The breakout of the resistance level 1.3300 accelerated the active short-term impulse wave C – which belongs to wave (2) from the end of September. Given the rising bullish Sterling the bearish USD sentiment seen across the currency markets today (on positive vaccine news) – GBPUSD is likely to rise further toward the next resistance level 1.35000 (former monthly high from September).

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