LeoPrime Daily Market Analysis

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GBPUSD broke support area; Likely to fall to support level 1.37000

GBPUSD currency pair continues to fall inside the minor impulse wave C, which previously broke the support area located between the key support level 1.38000 (which stopped impulse (i) in the middle of August) and the 50% Fibonacci retracement level of the previous sharp price impulse (1) from the middle of July. Given strengthening bullish USA dollar sentiment seen across the FX markets today- GBPUSD currency pair can be expected to fall further toward the next support level 1.37000 (target price for the completion of the active impulse wave C)

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