LeoPrime Daily Market Analysis

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GBPUSD broke resistance zone; Likely to rise to resistance level 1.39000

GBPUSD currency pair under the bullish pressure after the pair broke the resistance zone located between the resistance level 1.38100 (top of the previous minor impulse wave 1) and the resistance trendline of the daily down channel from the start of June. The breakout of this resistance zone accelerated the active impulse wave 3. Given the improving sterling sentiment as seen across the currency markets today, GBPUSD currency pair can be expected to rise further toward the next resistance level 1.39000 (previous minor reversal high from the middle of August).

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